Exchange Systems definition

Exchange Systems refers to any pre-trade, trade or post-trade systems, including QUEST, operated by the Exchange in connection with the Markets.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Exchange Systems means the electronic systems operated by the Exchange for providing access to the services for the listing and trading of Listed Securities and trading of Other Traded Securities on the Exchange.

Exchange Systems means: (i) the electronic systems operated by the Exchange for providing access to the services for the listing and trading of securities listed on the Exchange and trading of securities listed by an exchange other than the Exchange that are traded (but not listed) on the Exchange; (ii) the functional environment set up for testing purposes by the Exchange which will act in accordance with the Operational Materials, as the case may be; and (iii) any Data Systems.

Examples of Exchange Systems in a sentence

• All warranties and conditions, both express and implied as to condition, description, quality, performance, durability, or fitness for the purpose or otherwise of any of the Exchange Systems or any component thereof are excluded except as required by law.

• The Exchange does not warrant or forecast that the Exchange Systems, any component thereof or any services performed in respect thereof will meet the requirements of any user, or that operation of the Exchange Systems will be uninterrupted or error-free, or that any services performed in respect of the Exchange Systems will be uninterrupted or error-free.

• The Exchange shall not be, directly or indirectly, a party to any trade or other transaction posted to or consummated on the Exchange Systems.

• Member hereby agrees that any use of the Services or access or use of the Exchange Systems by Member after the expiration of the notice period shall be deemed acceptance by Member of the amendment.

• The Exchange shall not be responsible for or otherwise guarantee any trade or other transaction effected by Member through the Exchange Systems.

• Member will be solely responsible for any and all telecommunications costs and all other expenses incurred in linking to, and maintaining its link to, the Exchange Systems.

• Member will implement security systems and policies and take all other reasonable security precautions to prevent unauthorized use of the Services or access to or use of the Exchange Systems, including unauthorized entry of information into the Exchange Systems, or the information and data made available thereby.

• If Member chooses to seek to directly connect to the Exchange Systems, a separate connectivity services agreement will be required.

• Nothing in this Agreement constitutes an undertaking by or obligation of the Exchange to continue to: (i) provide the Connectivity Services or access to the Exchange Systems, or any aspect of one or both, in its current form or configuration or by utilizing the equipment in place as of the date of this Agreement; or (ii) use existing communications facilities, except as expressly provided in this Agreement.

• Any use of the Connectivity Services or access or use of the Exchange Systems by Customer after the expiration of the notice period shall be deemed acceptance by Customer of the amendment.

More Definitions of Exchange Systems

Exchange Systems has the meaning set out in the Trading Policies.

Exchange Systems are the means and related mechanisms of Participants that perform such functions as message validation, processing, logging, routing and execution (including electronic and automatic execution) of Linkage Orders, and related confirmations.