Common use of Recurring Orders Clause in Contracts

Recurring Orders. Vivid NL can provide You with the opportunity to place recurring Buy Orders for Financial Instruments at various periodic intervals (Recurring Orders). Each Recurring Order is executed in the same way as a normal Buy Order (Market Order) (see Article 7.2 above). To initiate a Recurring Order, You must have opened a Savings Plan pocket from here You can select the relevant Financial Instrument to which the Recurring Order should apply. You will also need to select the criteria applicable to Your Recurring Order (Recurring Order Criteria). Recurring Order Criteria could include: ● Selection of Financial Instrument(s); ● Amount of Recurring Order (e.g. EUR 30); ● Order intervals (e.g. monthly); ● Start date of Recurring Order (Vivid NL may limit the available start dates to facilitate the execution of Recurring Orders as Block Trades). After you have authorised the Recurring Order, Vivid NL will transmit the Recurring Order for execution to the Executing Broker(s) on a continuous basis, based on the Recurring Order Criteria using the implied authorization by you for each individual transaction. A Recurring Order will only be transmitted by Vivid NL for execution by an Executing Broker if You have sufficient funds available in your Invest Cash Pocket. After the successful execution of Your Recurring Order, the acquired Financial Instrument(s) will be immediately credited to Your Invest Pocket. In the event that a Recurring Order cannot be executed on the day specified in the Recurring Order Criteria, e.g. due to technical reasons, it will be executed as soon as reasonably possible thereafter. In the case of significant price change, market volatility or due to technical reasons it may occur that Your Recurring Order is not executed at all. In this scenario, the amount of the Recurring Order which was not executed previously will not be added to the next Recurring Order. You may at any time cancel a Recurring Order (up to 1 minute prior to the scheduled time of its execution). You may change the Recurring Order Criteria up to the extent that Vivid NL allows You to change these. If you wish to change other Recurring Order Criteria, You may have to cancel your existing Recurring Order and initiate a new Recurring Order. A cancellation, change or initiation of a Recurring Order is effective only after it has been confirmed and authorised by You. All Your outstanding Recurring Orders will be automatically cancelled upon termination of this Client Agreement.