Common use of Use of Brokers Clause in Contracts

Use of Brokers. ▇▇▇▇▇▇▇ ▇▇▇▇▇, for and on behalf of Customer, is authorized in its sole discretion to select floor brokers and, on boards of trade where ▇▇▇▇▇▇▇ ▇▇▇▇▇ is not a clearing member, unaffiliated clearing brokers, which will act as brokers and agents in connection with transactions in Contracts for the Account. ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall not be liable for the malfeasance or nonperformance of any such third party broker, so long as ▇▇▇▇▇▇▇ ▇▇▇▇▇ uses due care in the selection of such broker. Customer is authorized, subject to ▇▇▇▇▇▇▇ ▇▇▇▇▇’▇ approval and documentation requirements, if any, to select and engage execution brokers to execute transactions for the Customer’s Account and to negotiate the commissions to be paid to such execution broker by ▇▇▇▇▇▇▇ ▇▇▇▇▇ on behalf of Customer. Any such execution broker or any floor broker used under any circumstances to execute any transaction, other than an employee of ▇▇▇▇▇▇▇ ▇▇▇▇▇, shall not be deemed to be an agent of ▇▇▇▇▇▇▇ ▇▇▇▇▇.