Overseas order execution Clause Samples

Overseas order execution. The Broker shall cause and control the execution of the Client's orders on exchanges and other markets anywhere in the world through any person related to the Broker or members of the various exchanges and clearing houses or independent floor brokers or market makers or principals in other markets, by arrangements which the Broker in its absolute discretion may make from time to time with various persons as may be necessary to provide other execution, and references in this Agreement to transactions or execution by the Broker shall be construed accordingly. If the Client directs the Broker to enter into any Futures/Option Contract transaction on any exchange or other market on which such transactions are effected in a currency other than the currency in which the Account(s) with the Broker is denominated, (a) any profit or loss arising from fluctuations in the rate of exchange between the two currencies will be for the account and risk of the Client, (b) all margin deposits will be provided to the Broker in such currency and in such amounts as the Broker may require from time to time and (c) when such Futures/Option Contract are sold or otherwise liquidated, and any margin deposits are liquidated, the Broker shall debit or credit the Account(s) in the currency in which the Account(s) is denominated, at a rate of exchange determined conclusively by the Broker on the basis of the then-prevailing market rates of exchange between the two currencies.