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Money Services Business (MSB)

A money services business (MSB) is a financial institution or company that provides financial services, such as currency exchange, money transfer, or payment processing. In the United States, MSBs are regulated by the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

MSBs are required to register with FinCEN and follow certain rules and regulations, including reporting suspicious activity and maintaining records of their transactions. These requirements are designed to help prevent money laundering, terrorist financing, and other financial crimes.

MSBs include a wide range of businesses and organizations, including traditional money transmitters, such as Western Union and MoneyGram, as well as digital currency exchanges and other companies that provide financial services.

Overall, MSBs play a crucial role in the financial system and are subject to regulatory oversight to help prevent financial crimes and protect consumers.

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Conditional orders have increased risk due to their reliance on trigger processing, market data, and other internal and external systems like an exchange. Such orders are not sent to the market until specified conditions are met. During that time, system outages with downstream technologies or exchanges may occur. Furthermore, exchanges may impose controls on conditional orders to limit erroneous trades triggering downstream orders. HyperTrader or its subsidiaries may not always be aware of such changes to external controls immediately, leading to some conditional orders not being executed. As such, you need to monitor your conditional orders for reasonability. Conditional orders are “Not Held” orders whose execution instructions are on a best-efforts basis upon being triggered.

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