Prime Brokerage Clause Samples

Prime Brokerage. No Account in connection with which Correspondent is to act as an executing broker in a prime brokerage arrangement shall be opened without the prior written authorization of Ridge and the execution of appropriate documentation by the parties to such arrangement, including, without limitation, an agreement in substantially the same form as the Addendum annexed hereto.

Prime Brokerage. Counterparty may maintain brokerage accounts with a number of other brokers (“Executing Brokers”) and may from time to time place orders to be executed by an Executing Broker designating DBSI as its “Prime Broker.” Counterparty hereby appoints DBSI, in accordance with the terms of this Agreement, to act as its Prime Broker. Counterparty acknowledges that it is familiar with and agrees to comply with the terms of the SEC Letter and to inform DBSI promptly if it fails to do so. In connection therewith, Counterparty authorizes DBSI to execute an agreement with each Executing Broker (each, a “Prime Brokerage Agreement”), to provide any relevant information relating to Counterparty to the Executing Brokers, and to perform any necessary or useful act as required to be performed by DBSI as Prime Broker in accordance with this Agreement or the Applicable Requirements. (a) Counterparty or its authorized representative will advise DBSI prior to 5:30 p.m. (New York time) on each trade date of the details of all transactions (the “Trade Data”) effected for it by an Executing Broker on such trade date. DBSI is authorized to acknowledge, affirm, settle and clear all such transactions. DBSI is further authorized to undertake to resolve any unmatched trade report received by it from an Executing Broker; provided, however, that Counterparty shall remain responsible for the ultimate resolution of any such unmatched trade report and that DBSI shall have no responsibility with respect to Trade Data not correctly transmitted to it on a timely basis except to the extent that such transmission failure is directly caused by a communications network created, owned and operated by DBSI. . (b) Counterparty agrees to pay all Executing Broker fees agreed to by it and to make any necessary arrangements concerning the payment of any such fees. The DB Entities are authorized to pay any such fees from the Accounts of Counterparty. (c) On the Business Day following each transaction, DBSI shall send Counterparty a notification of each trade placed with any Executing Broker based upon information provided by Counterparty. With respect to U.S. securities, each such notification shall provide the information required by the SEC Letter. If Counterparty has instructed Executing Brokers to send trade confirmations to Counterparty in care of DBSI, Counterparty understands that such confirmations are available to Counterparty without charge upon request. Except as otherwise explicitly provided here...

Prime Brokerage. (a) ESTABLISHMENT OF AN ACCOUNT SLK agrees to establish on its books and records an account in the name of a prime broker for introducing firm's clients and to maintain same providing SLK receives from said client SIA Form 151 "Executing Broker Customer Agreement" and all other documents SLK may deem appropriate. The introducing firm shall provide SLK with the Prime Broker tax ID number and the full street address of it's client, the "SIA Form 151 " as well as, the necessary settlement instructions. (b) CUSTOMER QUALIFICATIONS By introducing Prime broker accounts to SLK, the introducing firm confirms that it is aware that their client maintains a minimum net equity of $500,000 in cash or securities with a ready market for trades executed on behalf of an account not managed by an advisor or $100,000 in cash or securities with a ready market for trades executed on behalf of a customer account managed by an investment advisor registered under Section 203 of the Investment Advisors Act of 1940. The introducing firm understands that if for any reason the account falls below such minimum net equity SLK has the right to refuse to process trades as a prime broker transaction. Each time you enter an order you hereby represent that your client shall be in compliance with such minimum net equity or will notify SLK otherwise. In the event that any prime broker diS2ffirms any trade you have executed you hereby agree to be responsible and liable to SLK for settling such transaction.

Prime Brokerage. 26.1. The Introducing Firm may, from time to time, execute trades (either directly or through the Clearing Firm) or permit its customers to execute trades with the Clearing Firm or its affiliates, for the accounts of specified customers of the Introducing Firm that have requested prime brokerage execution services from the Introducing Firm (“Prime Brokerage Accounts”) in compliance with the requirements of the SEC no-action letter, dated January 25, 1994 as amended from time to time (The SEC Letter). 26.2. The Introducing Firm understands and agrees that if a Prime Broker shall disaffirm or “dk” any trade executed by the Introducing Firm on behalf of a Prime Brokerage Account, the Introducing Firm shall open an account for such Prime Brokerage Account in its range of accounts at the risk and expense of the Introducing Firm to the same extent as for any trade in any account introduced by the Introducing Firm pursuant to this Agreement. 26.3. The Introducing Firm understands and agrees that all Prime Brokerage Accounts shall be conducted in accordance with the requirements of the SEC Letter. The Introducing Firm further agrees to supply the Clearing Firm with such documents, papers, and things, from time to time, as are reasonably required by the Clearing Firm to carry out the intention of this section. The Introducing Firm agrees and represents that in connection with the foregoing, it shall not hold itself out or otherwise represent that Introducing Firm is a prime broker as such term is understood in the SEC letter.

Prime Brokerage. If Client clears transactions in an account established in the name of another broker-dealer, acting as Client’s prime broker, such services shall be subject to the Agreement for Prime Brokerage Clearing Services (Form 151). • Electronic Trading. If Client receives electronic trading services from BIS, such services shall be subject to the Electronic Access and Trading Terms.

Prime Brokerage. Customer may maintain brokerage accounts with brokers other than Cowen (“Executing Brokers”) and may from time to time place orders with an Executing Broker, but designate Cowen as its “Prime Broker.”

Prime Brokerage. Pershing Advisor Solutions allows your Investment Advisor(s) to place orders for the execution of trades with broker-dealers other than Pershing Advisor Solutions. You acknowledge that you or your Investment Advisor(s) are responsible for selecting these other brokers, and that Pershing Advisor Solutions makes no representation regarding their financial condition or ability. Pershing Advisor Solutions may reject any executing broker proposed by you or your Investment Advisor(s) or terminate any previously accepted executing broker for any reason at any time. If Pershing Advisor Solutions does so, it will inform you or your Investment Advisor(s) in a timely manner. You authorize Pershing Advisor Solutions to collect and transmit prime brokerage trade orders and other instructions from you or your Investment Advisor(s) on an ongoing basis, and you agree to allow Pershing Advisor Solutions to access reports, data, and services. You authorize Pershing Advisor Solutions to advise the executing brokers if Your Account(s) is not in compliance with any net equity requirement for prime brokerage currently in effect at Pershing Advisor Solutions, to send a notice of disaffirmance of any executing broker’s trade to that broker, and to transmit your name to each executing broker as an underlying client of your Investment Advisor(s). Commissions and/or fees may apply to the execution of transactions through other broker-dealers that you would not incur if the transaction were executed directly through Pershing Advisor Solutions, including additional fees charged by Pershing Advisor Solutions. You agree that Your Account(s) may be assessed a prime brokerage fee if your Investment Advisor(s) trades away from Pershing Advisor Solutions; you and your Investment Advisor(s) will determine responsibility for these fees. Pershing Advisor Solutions shall be entitled to debit assets from Your Account(s) on the settlement date of any trade-away order regardless of whether delivery or receipt has occurred, or to take appropriate steps to complete, cancel, or liquidate any transaction. If your Investment Advisor(s) elects to transact business with other broker-dealers, Pershing Advisor Solutions will make available, on request and at no additional charge, any confirmation sent by an executing broker-dealer to you in care of Pershing Advisor Solutions. You understand that prime brokerage activity shall be conducted consistent with all Applicable Laws, rules and regulations, as well ...

Prime Brokerage a. Establishment of an Account SLK agrees to establish on its books and records an account in the name of a prime broker for introducing firm's clients and to maintain same providing SLK receives from said clients SIA Form 151 "Executing Broker Customer Agreement" and all other documents SLK may deem appropriate. The introducing firm shall provide SLK with the Prime Broker tax ID number and the full street address of its client, the "SIA Form 151", as well as, the necessary settlement instructions.

Prime Brokerage