Cashiering Functions. Pershing shall perform normal and reasonable cashiering functions for customer accounts introduced by Broker. These functions shall include receipt and delivery of securities purchased, sold, borrowed, and loaned; receipt and payment of funds owed by or to customers; and provision of custody for securities and funds. Broker shall provide Pershing with the basic data and documents that are necessary or appropriate to permit Pershing to perform its obligations under this Paragraph, including but not limited to copies of records documenting receipt of customers' funds and securities received directly by Broker. Such data and documents must be compatible with the requirements of Pershing's data processing systems.
Cashiering Functions. Pershing shall perform cashiering functions for accounts introduced by Broker. These functions shall include receipt, delivery and transfer of securities; receipt and payment of funds owed by or to customers; and provision of custody for securities and funds; the handling of margin accounts; the receipt and distribution of dividends and other distributions; and the processing of exchange offers, rights offerings, warrants, tender offers and redemptions. Broker shall provide Pershing with the data and documents that are reasonably necessary or appropriate to permit Pershing to perform its obligations under this Paragraph, including but not limited to copies of records documenting receipt of customers’ funds and securities received directly by Broker. Such data and documents must be compatible with the requirements of Pershing’s data processing systems. To the extent Broker is unable to provide data and documents that are compatible with the requirements of Pershing’s data processing systems, the parties agree to attempt to resolve in good faith the provision of such information in a mutually acceptable format.
Cashiering Functions. First Clearing shall perform cashiering functions for accounts introduced by Broker. These functions shall include receipt and delivery of securities; receipt and payment of funds owed by or to customers; and provision of custody for securities and funds. Broker shall provide First Clearing with the data and documents that are necessary or appropriate to permit First Clearing to perform its obligations under this Paragraph, including but not limited to copies of records documenting receipt of customers’ funds and securities received directly by Broker. Such data and documents must be compatible with the requirements of First Clearing’s data processing systems.
Cashiering Functions. Clearing Agent shall perform cashiering functions for accounts introduced by Introducing Firm. These functions shall include receipt and delivery of securities; receipt and payment of funds owed by or to customers; provision of custody for securities and funds; the handling of margin accounts; the receipt and distribution of dividends and other distributions; and the processing of exchange offers, rights offerings, warrants, tender offers and redemptions. Introducing Firm shall provide Clearing Agent with the data and documents that are necessary or appropriate to permit Clearing Agent to perform its obligations under this Section, including but not limited to copies of records documenting receipt of customers’ funds and securities received directly by Introducing Firm. Such data and documents must be compatible with the requirements of Clearing Agent’s data processing systems. Clearing Agent may reasonably refuse or decline to accept any particular payment or form of payment, as it deems appropriate. Clearing Agent will not accept payment in currency, money orders, traveler’s checks, double-endorsed checks, checks drawn on non-U.S. banks, starter checks or checks drawn against lines of credit.
Cashiering Functions. BNYCS shall perform normal cashiering functions for Accounts introduced by Broker. These functions shall include receipt and delivery of securities purchased, sold, borrowed and loaned and provision of custody of securities and funds.
Cashiering Functions. Fortis shall perform cashiering functions for accounts introduced by Broker. These functions shall include receipt and delivery of securities; receipt and payment of funds. Broker acknowledges that security transactions between Broker and customer will be settled with the customers' clearing agent on a delivery versus payment or receipt versus payment basis.
Cashiering Functions. Xxxxxxxxxx Correspondent Services will perform all cashiering functions for the Introduced Accounts, including the receipt, delivery, and transfer of securities purchased, sold, borrowed, and loaned, the making and receipt of payments therefor, the custody and safeguarding of securities and payments so received, the receipt and distribution of dividends and other distributions, the processing of exchange offers, rights offerings, warrants, tender offers, and redemptions, and such other functions as may be agreed upon by the parties.
Cashiering Functions. ConvergEx shall perform normal cashiering functions for Accounts. These functions shall include receipt and delivery of funds and securities purchased, sold, borrowed and loaned. ConvergEx shall not provide custody of funds or securities unless Broker and ConvergEx enter into a separate agreement, acceptable to ConvergEx in its sole discretion, concerning that subject matter. Broker shall provide ConvergEx with the data and documents that are necessary or appropriate to permit ConvergEx to perform its obligations under this paragraph. When Issued Transactions. In the case of the payment and delivery of securities on a “when issued” basis, Broker shall be responsible, as set forth in this Agreement, in the event the customer does not make the necessary and satisfactory payment of funds or delivery of securities to ConvergEx.
Cashiering Functions. Pershing shall perform cashiering functions for accounts introduced by Broker and, notwithstanding anything stated in this Agreement to the contrary, shall remain responsible for any errors made by Pershing in performing those cashiering functions. These functions shall include receipt and delivery of securities; receipt and payment of funds owed by or to customers; and provision of custody for securities and funds. Broker shall provide Pershing with the data and documents that are necessary or appropriate to permit Pershing to perform its obligations under this Paragraph, including but not limited to copies of records documenting receipt of customers' funds and securities received directly by Broker. Such data and documents must be compatible with the requirements of Pershing's data processing systems.
Cashiering Functions. The Clearing Broker will engage in all cashiering functions for the Introduced Accounts, including the receipt, delivery, and transfer of securities purchased, sold, borrowed, and loaned, the making and receipt of payments therefor, the custody of securities and payments so received, the handling of margin accounts, the receipt and distribution of dividends and other distributions, the processing of exchange offers, rights offerings, warrants, tender offers, and redemptions, and such other functions as may be agreed upon by the parties; provided, however, that if mutually agreed to by the Introducing Broker and the Clearing Broker, cashiering functions with respect to receipt of cash and securities may be performed directly by the Introducing Broker.
