7A.16 Priority to Client’s Orders

7A.16.1 Except as permitted by Rule 7A.16.2 —

a. the Member to trade in futures contracts when acting as principal or on behalf of a person associated with or connected to the Member; or

b. a representative of such a Member when acting for his own account or on behalf of a person associated with or connected to the representative,

shall not enter into a transaction for the purchase or sale of futures contracts that are permitted to be traded on the Exchange, if a client of that Member or representative, who is not associated with or connected to the Member or representative, has instructed the Member or representative to purchase or sell, respectively, futures contracts of the same class and he has not complied with the instruction.

 

7A.16.2 Rule 7A.16.1 shall not apply to the Member or a representative of such a Member if his client required the purchase or sale of futures contracts on behalf of the client to be effected only on specified conditions and he has been unable to purchase or sell the futures contracts by reason of those conditions.

 

7A.16.3 Rule 7A.16.1 shall not apply to a transaction entered into by —

a. the Member to trade in futures contracts as principal or on behalf of a person associated with or connected to the Member; or

b. a representative of such a Member for his own account or on behalf of a person associated with or connected to the representative,

if the transaction is entered into in accordance to the business rules or practices of the Exchange, as the case may be, through which the transaction is entered into.

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