Common use of Processing an Order Clause in Contracts

Processing an Order. The Bank undertakes to process a received Order carefully in the best interest of the Customer. The Bank executes an Order according to its currently valid order execution policy, unless the Customer gives special instructions deviating from the execution policy. When the Customer submits an Order, the Customer is regarded to have approved the Bank’s currently valid order execution policy (cf. execution policy published on ▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇). The Customer consents to the Bank’s execution policy. The Customer is aware and accepts that the counterparty to the trade may be the Bank, a company belonging to the Nordea Group, an organisation or a foundation under its authority or its pension fund or foundation. An Order will be processed without undue delay unless it has been specifically agreed with the Customer that the Order will be processed at a time deemed best by the Bank or at some other time. The Customer is obligated to contribute to the processing of the Order. If an Order does not have a Limit Price, the Bank is entitled to execute the Order at the prevailing market price (a market price order). The Bank has the right to execute the Order in parts, unless otherwise agreed. Unless agreed otherwise with the Customer, the Bank is entitled to combine the Customer’s Order with another customer’s Order or with its own Order in accordance with the applicable law and Market Rules. Detailed information on the processing and combination of Orders and division of trades can be found in the Bank’s currently valid execution policy (cf. execution policy published on ▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇). Before executing a purchase order, the Bank is entitled to ensure that the Customer is able to pay the purchase price of the Derivative Contract. In a purchase order, the Bank is entitled to demand a down payment or the partial or full payment in advance. On the basis of an Order and an executed trade, the Bank is entitled to take action to settle the trade, to secure its collateral pursuant to these Terms and Conditions and the Market Place’s possible lien and to take other similar measures.