Trade Requests Sample Clauses
The Trade Requests clause establishes the procedures and requirements for one party to formally request a trade or transaction under the agreement. Typically, it outlines the information that must be included in a trade request, such as the type of product, quantity, price, and timing, and may specify the method and timeframe for submitting such requests. This clause ensures that both parties have a clear, standardized process for initiating trades, reducing misunderstandings and facilitating efficient execution of transactions.
Trade Requests. During the term of this Agreement and at such times as mutually agreed by the Parties, the Parties may affect transactions in Digital Assets in accordance with the following procedures:
(a) Counterparty may submit to Solidus, via an approved communications channel, as set forth in Section 2.3, a request to purchase or sell a specified Digital Asset (a “Trade Request”) on either a spot or forward basis. Solidus may also provide, in the future, an electronic or otherwise automated trading or quotation platform, the terms of use of which may incorporate and modify the terms of this Section 2.
(b) Upon receipt of a Trade Request, Solidus may, but is not required to, provide to Counterparty, via electronic and/or telephonic communication, a price (which may be denominated in a fiat currency or another Digital Asset) at which it is willing to sell or purchase (as the case may be) a specified quantity of such Digital Asset (a “Trade Quote”). For the avoidance of doubt, Solidus may decline to provide a Trade Quote for any reason in its sole discretion.
(c) Counterparty must accept a Trade Quote by electronic and/or telephonic communication within ten (10) seconds of the time the electronic communication is sent or the time of the telephonic communication (the “Acceptance Window”); provided, however, that Solidus may withdraw a Trade Quote by electronic or telephonic communication at any time prior to acceptance.
(d) If Counterparty accepts the Trade Quote within the Acceptance Window, a binding transaction will be deemed to have been executed at the time of acceptance (the “Time of Acceptance”), on the terms set forth in the Trade Quote and this Agreement (a “Completed Trade”).
(e) If the Trade Quote is not accepted within the Acceptance Window, the Trade Quote shall be deemed to be rejected and expire and no transaction may be affected in accordance with such Trade Quote. In the event that a Trade Quote is rejected or is not accepted within the Acceptance Window, Solidus may provide, and Counterparty may request that Solidus provide a new Trade Quote.
(f) Following the valid acceptance of a Trade Quote, Solidus shall send to Counterparty a summary of the terms of the Completed Trade including the following information: (i) the type of Digital Asset to be purchased or sold; (ii) whether Solidus is selling or purchasing the relevant Digital Asset; (iii) the Counterparty Delivery Time; (iv) where Solidus is selling the relevant Digital Asset, the Counterparty Purcha...
Trade Requests. Upon a request from Client, Custodian shall use its best efforts to initiate a trade of securities or mutual funds held in the Account on the date of such request, and shall initiate such trade no later than one business day following such request. However, Custodian has no control over, and shall not be liable for any loss of investment earnings, in connection with a failure to implement a trade of securities or mutual funds requested by Client that has been initiated by Custodian.
Trade Requests. Trade requests must be made in writing or by electronic means from all employees trading into and out of the trade via single or coordinating documents given to the Employer scheduling department or immediate supervisor.