Responsibility to Accept or Reject Trades Clause Samples

The 'Responsibility to Accept or Reject Trades' clause defines which party is obligated to either accept or reject proposed trades within a specified timeframe. In practice, this clause typically outlines the process for reviewing trade details, sets deadlines for response, and may specify the consequences of failing to respond, such as automatic acceptance or rejection. Its core function is to ensure timely and clear communication between parties, thereby reducing the risk of disputes and operational delays in trade execution.
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Responsibility to Accept or Reject Trades. Pershing shall execute transactions in customers’ accounts and release or deposit money or securities to or for accounts only upon Broker’s instructions. Pershing reserves the right to accept written or oral transaction orders from Broker’s customers in circumstances where it determines that either (i) the customers are unable to execute those transactions through Broker or (ii) Pershing is required to do so by applicable or relevant law. Notwithstanding any instructions to the contrary, Pershing may, after notifying Broker orally or in writing: (i) refuse to confirm a transaction or cancel a confirmation; (ii) reject a delivery or receipt of securities or money; (iii) refuse to clear a trade executed by Broker; or (iv) refuse to execute a trade for the account of a customer or Broker.
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Responsibility to Accept or Reject Trades. Clearing Agent shall execute transactions in customers’ accounts and release or deposit money or securities to or for accounts only upon Introducing Firm’s instructions or the instructions of Introducing Firm’s clients’ investment advisors. Clearing Agent reserves the right to accept written or oral transaction orders from Introducing Firm’s customers in circumstances where it determines that either (i) the customers are unable to execute those transactions through Introducing Firm or (ii) Clearing Agent is required to do so by applicable or relevant law. Notwithstanding any instructions to the contrary, Clearing Agent may, after notifying Introducing Firm orally or in writing: (i) refuse to confirm a transaction or cancel a confirmation; (ii) reject a delivery or receipt of securities or money; (iii) refuse to clear a trade executed by Introducing Firm; or (iv) refuse to execute a trade for the account of a customer or Introducing Firm.
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Responsibility to Accept or Reject Trades. Pershing shall execute transactions in customers' accounts and release or deposit money or securities to or for accounts only upon Broker's instructions. Pershing reserves the right, provided it has advised Broker with an explanation (confirmed in writing or by electronic message in a manner as agreed by the parties), to accept written or oral transaction orders from Broker's customers in extraordinary circumstances where it determines that either (i) the customers are unable to execute those transactions through Broker (ii) or Pershing is required to do so by applicable or relevant law. Notwithstanding any instructions to the contrary, Pershing may, after advising Broker orally or in writing with an explanation ; (i) refuse to confirm a transaction or cancel a confirmation, (ii) reject a delivery or receipt of securities or money; (iii) refuse to clear a trade executed by Broker; or (iv) refuse to execute a trade for the account of a customer or Broker; however, if Pershing elects any of the aforementioned (i) through (iv), Pershing shall remain responsible for the damages arising from its election if its election were not reasonable under the circumstances.
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Responsibility to Accept or Reject Trades. First Clearing shall execute transactions in customers’ accounts and release or deposit money or securities to or for accounts only upon Broker’s instructions. First Clearing reserves the right to accept written or oral transaction orders from Broker’s customers in circumstances where it determines that either (i) the customers are unable to execute those transactions through Broker or (ii) First Clearing is required to do so by applicable or relevant law. Notwithstanding any instructions to the contrary, First Clearing may in its sole discretion: (i) cancel and/or re-▇▇▇▇ a transaction; (ii) decline a transaction (prior to execution); (iii) reject a delivery or receipt of securities or money; (iv) refuse to clear a trade executed by Broker; or (v) refuse to execute a trade for the account of a customer or Broker.
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Responsibility to Accept or Reject Trades. Pershing shall execute transactions in customers' accounts and release or deposit money or securities to or for accounts only upon Broker's instructions. Pershing reserves the right to accept written or oral transaction orders from Broker's customers in circumstances where it determines that the customers are unable to execute those transactions through
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Responsibility to Accept or Reject Trades. Broker shall be responsible for the acceptance of any orders or the execution of any securities orders for Accounts. Broker shall transmit all orders for Accounts in accordance with such procedures as ConvergEx may from time to time establish. ConvergEx may, in its sole reasonable discretion, determine whether to accept a properly transmitted order for execution, clearance and/or settlement. ConvergEx, acting as Broker’s agent, and not as the agent for Customer, will execute the transactions as requested by Broker using commercially reasonable efforts in accordance with custom and practice within the securities industry. ConvergEx may determine, as it deems advisable in its sole discretion, the methodology (including, without limitation, the selection of floor brokers, automated execution facilities, dark pools, or internal crosses) that will be utilized to execute such trades. ConvergEx reserve the right to accept written or oral transaction orders from any Customer in circumstances where it determines that either (i) the Customer is unable to execute those transactions through Broker, or (ii) ConvergEx is required to do so by Applicable Regulations. In the event that Broker executes a transaction (in its own name or in the name of another broker-dealer, including without limitation, ConvergEx), sends an order to another broker-dealer for execution, or otherwise designates the contra broker for a transaction, Broker shall be responsible for any loss or damage to ConvergEx, any Customer or any Account, including without limitation any loss or damage arising from or relating to (a) any act or omission by the executing broker (including without limitation Broker acting as executing broker) or the contra broker in executing, clearing and/or settling the transaction(s), (b) any use of ConvergEx as the “give-up” for clearance and settlement, and (c) any use of a ConvergEx mnemonic, MPID or other identifier. Unless Broker specifically requests that ConvergEx handle an order otherwise, Broker authorizes ConvergEx, in its sole discretion, to submit a Customer’s order being handled by ConvergEx on an agency basis to, and to execute transactions for Broker matched through, its “ConvergEx Cross” Alternative Trading System (“ATS”), an agency crossing engine, and/or in or through any other ATS or dark pool operated by ConvergEx or any other person. Further, Broker authorizes ConvergEx, in its sole discretion, to use any such order to create an indications-of-interest (...
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Responsibility to Accept or Reject Trades. Fortis shall settle transactions in customers' accounts and release or deposit money or securities to or for accounts, but only upon Broker's instructions.
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Related to Responsibility to Accept or Reject Trades

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