Trading Venue(s) definition
Examples of Trading Venue(s) in a sentence
Digital Assets may trade at different prices on different trading venues, and other Connected Trading Venues and/or trading venues not used by Coinbase may offer better prices and/or lower costs than the Connected Trading Venue used to execute Client’s Order.
Coinbase may receive cash payments or other financial incentives (such as reciprocal business arrangements) from Connected Trading Venues.
Client acknowledges that Coinbase and its other clients may trade in their own interests on the Connected Trading Venues and could, therefore, be the counterparty to a Client Order on a Connected Trading Venue.
Coinbase will direct Orders to the Connected Trading Venues on an automated basis and generally will not manually route orders.
In designing algorithms that determine an Order’s routing logic, Coinbase considers a variety of factors relating to the Order and the Connected Trading Venues, including the speed of execution, whether the venue is able to consummate off-chain transactions, the availability of efficient and reliable systems, the level of service provided, and the cost of executing orders.
Trading Venues shall be deemed regulated markets, multilateral trading facilities, systematic internalisers or any other as defined by the Directive of the European Parliament and of the Council on Markets in Financial Instruments (MiFID) and its derived regulation, or any regulation which may eventually succeed it.
Coinbase agrees to direct Client’s Orders in a manner that does not systematically favor Coinbase’s exchange platform or Connected Trading Venues that provide financial incentives to Coinbase; provided, however, that under certain circumstances Coinbase may choose to intentionally route to the Coinbase exchange platform due to temporary conditions affecting Connected Trading Venues (e.g. connectivity problems of the Connected Trading Venue or funding constraints).
You also acknowledge that the transmission of Orders to Trading Venues is dependent upon the accurate and timely receipt of prices or quotes from the relevant Trading Venue or market data provider.
In this sense, it should be taken into account that the Contracting Party is using the price formation generated at BME Group’s Trading Venues as an essential element for its own price formation system and, in addition, that prices formed at the Contracting Party’s trading system shall not be subject to intellectual property rights claims by BME Market Data.
In particular, the Customer can also view the regulations on mistrades (see also Clause 20.4. of the Special Terms and Conditions for Securities Transactions) for the individual marketplace that may be relevant in the case of an off-exchange execution (Profile/Settings/Legal/Current Documents/Information on Trading Venues).