Prime Broker Client definition

Prime Broker Client means a Participant that has been identified by a Prime Broker in a Prime Broker Acknowledgment Letter to place Prime Brokerage Orders on the SEF and to execute Prime Broker Transactions in the name of and on behalf of such Prime Broker.
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Prime Broker Client means a Trade counterparty who, acting as agent for a designated Prime Broker and is authorized by such Prime Broker to enter into a Prime Broker Trade on or pursuant to the rules of GTX with one or more designated Executing Dealers.
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Prime Broker Client means a [Swap] counterparty who, acting as agent for a designated Prime Broker, either directly or through its [authorized representative], is authorized by such Prime Broker to enter into an FX Prime Brokerage [Swap] on or pursuant to the rules of the [SEF] with one or more designated Execution Counterparties.
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Examples of Prime Broker Client in a sentence

  • A Participant acting as a Prime Broker Client may enter into an Uncleared Swap in the name of and on behalf of a Prime Broker only with a counterparty with which such Prime Broker has swap trading relationship documentation that meets the requirements of Applicable Law.

  • Prime Brokers shall be responsible for all Prime Brokerage Orders placed or Prime Broker Transactions executed by a Prime Broker Client acting in its capacity as such subject to and in accordance with the relevant Prime Broker Acknowledgement Letter and Rules 4105 and 5103.E.

  • By providing a Prime Broker Acknowledgement Letter to the SEF, each Prime Broker is deemed to authorize the SEF to send Confirmations of Prime Broker Transactions to the applicable Prime Broker Client and, in the case of a Prime Broker Transaction transacted through an Introducing Broker, to the applicable Introducing Broker, subject to Rule 4105(b).

  • With respect to any Uncleared Swap, the economic terms specific to the Transaction shall be reflected in a written communication (the “Trade Communication”) sent by the SEF to each counterparty, Introducing Broker or Prime Broker Client in accordance with Rule 4012(a).

  • Upon receipt of a Confirmation, such counterparty, Introducing Broker or Prime Broker Client (as applicable) shall, as soon as practicable, review the contents of such Confirmation and promptly report any errors or omissions to the SEF.

  • A Participant may enter into an Uncleared Swap on behalf of a Customer or Client only if such Customer (or, where the Customer is a Prime Broker Client, the related Prime Broker) or Client has swap trading relationship documentation with the relevant counterparty that meets the requirements of Applicable Law.

  • As set forth in Rule 4105(b)(3), a Prime Broker shall have no responsibility to supervise any Prime Broker Client or any of such Prime Broker Client’s Supervised Persons.

  • Nothing in this Rule 5103.E shall restrict the rights of a Prime Broker Client to request a review of a Prime Broker Transaction pursuant to the other provisions of Rule 5103.

  • Notwithstanding anything to the contrary in the SEF Rules, the SEF shall have the right, in its sole discretion, to suspend, revoke, limit, condition, restrict or qualify the ability of any Participant to transact on the SEF as a Prime Broker or Prime Broker Client following the use of the cancellation right in 5103.E.(a).

  • A Prime Broker has no responsibility to supervise any Prime Broker Client or any of such Prime Broker Client’s Supervised Persons.

Related to Prime Broker Client

  • Prime Broker means a Person that acts as credit counterparty for transactions executed on the SEF in the name and on behalf of such Person by its client or an agent of its client that is a BSEF Participant and that has authorized a Participant to send RFQs, place Orders or enter into Trades in the name and on behalf of such Person.

  • The Client means the organization purchasing the service.