Common use of Daily Operating Procedures Clause in Contracts

Daily Operating Procedures. Morning Parametric receives necessary information from the custodian’s Mutual Fund Custody Group (“MFG”) to determine the level of Liquid Assets, including subscription and redemption activity. Liquid Assets include, but are not limited to, cash, short-term holdings, United States Treasury securities, balances in any money market fund, unsettled cash from open transactions and variation margin held in the Account for futures transactions. Prior to Noon Parametric posts a daily tracking report to a secure client portal and notifies ABA when the report is available. Parametric contacts ABA if report will be delayed. During market hours In accordance with the Agreement and any subsequent ABA instruction, Parametric calculates 90% of Liquid Assets as the amount to be equitized and calculates the number of futures contracts to be purchased or sold for each Fund. Number of contracts is determined by size of Liquid Assets in each Fund and type of contract is specified in Section V below. During market hours Parametric executes trades with one or more FCMs or one or more executing brokers, to be cleared at one or more approved FCMs, as specified in Section VI below. During business day Parametric electronically receives trade confirmation data from FCMs. All trade data is confirmed. Trade information is processed. Prior to 9am (next day) Parametric sends daily calculations of variation margin to MFG which confirms these calculations with the statements received from the FCMs.

Daily Operating Procedures. Morning Parametric receives necessary information from the custodian’s Mutual Fund Custody Group (“MFG”) to determine the level of Liquid Assets, including subscription and redemption activity. Liquid Assets include, but are not limited to, cash, short-term holdings, United States Treasury securities, balances in any money market fund, unsettled cash from open transactions and variation margin held in the Account for futures transactions. Prior to Noon Parametric posts a daily tracking report to a secure client portal and notifies ABA when the report is available. Parametric contacts ABA if report will be delayed. During market hours In accordance with the Agreement and any subsequent ABA instruction, Parametric calculates 90100% of Liquid Assets as the amount to be equitized and calculates the number of futures contracts to be purchased or sold for each Fund. Number of contracts is determined by size of Liquid Assets in each Fund and type of contract is specified in Section V below. During market hours Parametric executes trades with one or more FCMs or one or more executing brokers, to be cleared at one or more approved FCMs, as specified in Section VI below. During business day Parametric electronically receives trade confirmation data from FCMs. All trade data is confirmed. Trade information is processed. Prior to 9am (next day) Parametric sends daily calculations of variation margin to MFG which confirms these calculations with the statements received from the FCMs.