MSIL definition
Examples of MSIL in a sentence
However, MSIL shall not be responsible for errors committed by the trading advisors.
Errors made by floor brokers appointed or selected by MSIL shall constitute errors made by MSIL.
MSIL acknowledges that the other partnerships of which Demeter Management Corporation (the general partner of Customer) is the general partner or trading manager, do not constitute affiliates of the Customer.
MSIL agrees to notify the applicable trading advisor for the Customer immediately upon discovery of any error committed by MSIL or any of its agents with respect to a trade for the Account which MSIL believes was not executed or cleared in accordance with proper instructions given by the Customer, its trading advisors or any other authorized agent of Customer.
DWR (and not the Customer) shall pay MSIL interest on any debit balances in the Account at such rates as MSIL and DWR shall agree from time to time.
Upon satisfaction by Customer of all of Customer's liabilities to MSIL, MSIL shall transfer to another futures broker all Contracts, if any, then held for the Account, and shall transfer to Customer or to another futures broker, as Customer may instruct, all cash, securities and other property held in the Account, whereupon this Agreement shall terminate.
Customer and MSIL wish to enter into this Agreement to set forth the terms and conditions upon which MSIL will perform brokerage services with respect to Client Contracts, Contracts and Transactions for Customer through an account carried by MSIL on behalf and in the name of Customer (the "Account").
In no event will MSIL be liable to Customer for consequential, incidental or special damages hereunder.
Notwithstanding the foregoing, the failure to comply with such reporting obligation does not increase MSIL's liability for its own errors beyond that otherwise expressly set forth in this Agreement, nor does it make MSIL in any way responsible for errors committed by the trading advisors.
Each of MSIL, the Customer, and the Customer's agents (including DWR), in their sole and absolute discretion, may record, on tape or otherwise, any telephone conversation between or among MSIL, the Customer or the Customer's agents with respect to the Account and Transactions therein and each of MSIL and the Customer hereby agrees and consents thereto.