Common use of Correspondent Orders Clause in Contracts

Correspondent Orders. The phrase secondary market orders as used -------------------- in this Section 7, shall not include orders placed by customers of third parties unaffiliated with E Group who introduce orders to E Group pursuant to a correspondent clearing arrangement between such third parties and E Group if E Group receives direction by the correspondent to place such order through another Market Center.

Correspondent Orders. The phrase secondary market orders as used -------------------- in this Section 7, shall not include orders placed by customers of third parties unaffiliated with E Group who introduce orders to E Group pursuant to a correspondent clearing arrangement between such third parties and E Group if E Group receives direction by the correspondent to place such order through another Market Center.