Index Receipt Agent Services. 1. J.X. Xxxxxx, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx and which J.X. Xxxxxx, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx shall: (a) (i) receive from the Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series and (iii) transmit both files as received from the Investment Adviser and Order Taker to NSCC; ETF Agency Services Agreement – December 2010 version (b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation orders as received from the Distributor to NSCC; receive back from NSCC the file of creation orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation orders, instruct the Transfer Agent to create the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account; (c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series. 4. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. Xxxxxx, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Samples: Agency Services Agreement (Exchange Traded Concepts Trust)
Index Receipt Agent Services. 1. J.X. XxxxxxBank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation issuance and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx Bank and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation issuance and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx Bank shall:
(a) (i) receive from the Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series and (iii) transmit both files as received from the Investment Adviser and Order Taker to NSCC; ETF Agency Services Agreement – December March 2010 version
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation issuance orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation issuance of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation issuance orders as received from the Distributor to NSCC; receive back from NSCC the file of creation issuance orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation issuance orders, instruct the Transfer Agent to create issue the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation issuance or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation issuance and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations issuances and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. XxxxxxBank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Index Receipt Agent Services. 1. J.X. XxxxxxBank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation issuance and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx Bank and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation issuance and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx Bank shall:
(a) (i) receive from the Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series and (iii) transmit both files as received from the Investment Adviser and Order Taker to NSCC; ETF Agency Services Agreement – December 2010 version;
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation issuance orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation issuance of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation issuance orders as received from the Distributor to NSCC; receive back from NSCC the file of creation issuance orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation issuance orders, instruct the Transfer Agent to create issue the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation issuance or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation issuance and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations issuances and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. XxxxxxBank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Index Receipt Agent Services. 1. J.X. XxxxxxBank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation purchase and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation purchase and redemption of Creation Units through the Clearing ProcessProcess1 , J.X. Xxxxxx Bank shall:
(a) (i) receive from the Investment Adviser Distributor daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series Fee, and (iii) transmit both files the file as received from the Investment Adviser and Order Taker Distributor to NSCC; ETF Agency Services Agreement – December 2010 version1 NSCC requires that the Index Receipt Agent deliver daily to NCSS by the NSCC deadline, a single file of all transaction and fund composition information for all exchange traded fund accounts for whom Bank acts as Index Receipt Agent. Should a distributor for an exchange traded fund served by Bank as Index Receipt Agent fail to deliver timely to Bank the required information, Bank will submit to NSCC to meet the NSCC deadline only those trade files timely received from distributors.
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation purchase orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation purchase orders as received from the Distributor to NSCC; receive back from NSCC the file of creation purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation purchase orders, instruct the Transfer Agent to create issue the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation purchase or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities with respect to one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC.
5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation purchase and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations purchases and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. XxxxxxBank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Samples: Agency Services Agreement (Ziegler Exchange Traded Trust)
Index Receipt Agent Services. 1. J.X. XxxxxxBank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series the Fund for the processing, clearance and the settlement of creation purchase and redemption orders for ETF Shares of each ETF Series the Fund and Creation Deposits through the facilities of NSCC and DTC.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit II hereto with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series the Fund for the processing, clearance and settlement of the creation purchase and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx Bank shall:,
(a) (i) receive from the Investment Adviser dailyFund or its agent on each trade date, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF SeriesFund, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series Fee, and (iii) transmit both files the file as received from the Investment Adviser and Order Taker Fund or its agent to NSCC; ETF Agency Services Agreement – December 2010 version;
(b) receive from the Distributor Fund or its agent on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation purchase orders from Authorized Participants that have been received and accepted by the Distributor Fund or its agent on behalf of the Trust and each ETF Seriesthe Fund, for the creation purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation purchase orders as received from the Distributor Fund or its agent to NSCC; receive back from NSCC the file of creation purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation purchase orders, instruct the Transfer Agent to create issue the appropriate number of ETF Shares of the applicable ETF Series Fund for deposit to the Custodian’s 's DTC Participant Account;
(c) receive from the Distributor Fund or its agent on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor Fund or its agent on behalf of the Trust for each the Fund; transmit the file of redemption orders as received from the Distributor Fund or its agent to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series Fund in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation purchase or redemption of Creation Units, as instructed by the Distributor Fund or its agent or the Trust on behalf of each ETF SeriesFund.
4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Fund or its agent, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the Fund, and transmit the file as received from the Fund or its agent to NSCC.
5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation purchase and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series the Fund irrespective of whether in effecting such creations purchases and redemptions for the Trust on behalf of each ETF Series the Fund through the Clearing Process, J.X. XxxxxxBank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Seriesthe Fund, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Samples: Agency Services Agreement (Fidelity Commonwealth Trust)
Index Receipt Agent Services. 1. J.X. XxxxxxBank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation purchase and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation purchase and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx Bank shall:
(a) (i) receive from the Investment Adviser Distributor daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series Fee, and (iii) transmit both files the file as received from the Investment Adviser and Order Taker Distributor to NSCC; ETF Agency Services Agreement – December 2010 version;
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation purchase orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation purchase orders as received from the Distributor to NSCC; receive back from NSCC the file of creation purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation purchase orders, instruct the Transfer Agent to create issue the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation purchase or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC.
5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation purchase and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations purchases and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. XxxxxxBank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Index Receipt Agent Services. 1. J.X. X.X. Xxxxxx, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. The foregoing shall only be applicable to US domestic ETFs that maintain DTC eligible baskets of securities. US domestic ETFs that maintain non-DTC eligible baskets of securities and US domiciled global ETFs will be processed via proprietary ETF servicing modules. However, X.X. Xxxxxx shall continue to deliver the Portfolio Composition Files to the NSCC for further dissemination to market participants.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement with each Authorized Participant, which shall be delivered to the J.X. X.X. Xxxxxx and which J.X. X.X. Xxxxxx, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. X.X. Xxxxxx and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation and redemption of Creation Units through the Clearing Process, J.X. X.X. Xxxxxx shall:
(a) (i) receive from the Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount (which term includes any cash-in-lieu amount) and the Transaction Fee for each ETF Series and (iii) transmit both files (referenced in subparagraphs (i) and (ii) herein), as received from the Investment Adviser and Order Taker received, to NSCC; ETF Agency Services Agreement – December 2010 version;
(b) receive from the Distributor Order Taker on each trade date a computer generated file that is in a form and substance acceptable to NSCC and that contains creation orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation of Creation Units against delivery of Deposit Securities and a Cash ComponentBalancing Amount and Transaction Fee; transmit the file of creation orders as received from the Distributor Order Taker to NSCC; receive back from NSCC the file of creation orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation orders, instruct the Transfer Agent to create the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor Order Taker on each trade date a computer generated file that is in a form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each FundETF Series; transmit the file of redemption orders as received from the Distributor Order Taker to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants or the Trust, as applicable, the Balancing Amounts on the creation or redemption of Creation Units, as instructed by the Distributor Order Taker or the Trust on behalf of each ETF Series.
4. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. X.X. Xxxxxx, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Index Receipt Agent Services. 1. J.X. Xxxxxx, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC.
2. The DistributorSponsor, on behalf of the Trust, shall enter into an Authorized Participant Agreement with each Authorized ParticipantParticipant and other specified counterparties providing collateralized commodity exposure for a particular Fund, which shall be delivered to the J.X. Xxxxxx Bank and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
32. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series Fund for the processing, clearance and settlement of the creation issuance and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx Bank shall:
(a) (i) receive from the Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series and (iii) transmit both files as received from the Investment Adviser and Order Taker to NSCC; ETF Agency Services Agreement – December 2010 version
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and (Create/Redeem File) that contains creation issuance orders from Authorized Participants that have been received and accepted by the Distributor Sponsor on behalf of the Trust and each ETF SeriesFund, for the creation issuance of Creation Units against delivery of Deposit Securities and a the Cash ComponentDeposit; transmit the file of creation orders as received from the Distributor to NSCC; receive back from NSCC the file of creation orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation issuance orders, instruct the Transfer Agent to create issue the appropriate number of ETF Shares of the applicable ETF Series Fund for deposit Deposit At Custodian and delivery to the CustodianCounterparty’s DTC Participant Account;
(b) Counterparty enters transaction to DTC to receive Shares from Bank’s DTC Participant Account. On trade date plus one the Authorized Participant and Counterparty submit settlement instructions to DTC. The Counterparty instructs delivery versus payment settlement with Authorized Participant who then instructs receipt versus payment settlement with the Counterparty through DTC. On trade date plus two the Authorized Participant and the Counterparty pre-match settlement instructions within DTC. On trade date plus three ETF shares and cash settle versus payment through DTC between Authorized Participant and the Counterparty. The Counterparty delivers collateral to the collateral account.
(c) receive from the Distributor Order Taker on each trade date a computer generated file that is in form and substance acceptable to NSCC and (Create/Redeem File) that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor Sponsor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to Withdraw at Custodian and redeem the appropriate number of ETF Shares of the applicable ETF Series Fund in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at On trade date plus one the appropriate times, cause Authorized Participant and Counterparty submit settlement instructions to be paid over to Authorized Participants Balancing Amounts on the creation or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4DTC. The Trust understands and agrees that all risk associated Counterparty instructs receive versus payment settlement with Authorized Participant who then instructs delivery versus payment settlement with the processing, clearance Counterparty through DTC. On trade date plus two the Authorized Participant and the Counterparty pre-match settlement of the creation and redemption of instructions within DTC. On trade date plus three ETF Shares, Deposit Securities and Redemption Securities shares and cash settle versus payment through DTC between Authorized Participant and the Clearing Process shall be that of Counterparty. The Counterparty receives collateral to the Trust collateral account and each transfers redeemed ETF Series irrespective of whether in effecting such creations and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. Xxxxxx, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and shares to Bank’s DTC as though it were the member or participant of such clearing and settlement systemsParticipant Account.
Appears in 1 contract
Samples: Agency Services Agreement (ETFS Collateralized Commodities Trust)
Index Receipt Agent Services. 1. J.X. XxxxxxBank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation purchase and redemption orders for ETF NETS Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which shall be delivered to the J.X. Xxxxxx and which J.X. XxxxxxBank, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. Xxxxxx Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation purchase and redemption of Creation Units through the Clearing Process, J.X. Xxxxxx Bank shall:
(a) (i) receive from the Investment Adviser Distributor daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series Fee, and (iii) transmit both files the file as received from the Investment Adviser and Order Taker Distributor to NSCC; ETF Agency Services Agreement – December 2010 version;
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation purchase orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation purchase orders as received from the Distributor to NSCC; receive back from NSCC the file of creation purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation purchase orders, instruct the Transfer Agent to create issue the appropriate number of ETF NETS Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF NETS Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation purchase or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC.
5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation purchase and redemption of ETF NETS Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations purchases and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. XxxxxxBank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
Appears in 1 contract
Index Receipt Agent Services. 1. J.X. X.X. Xxxxxx, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of creation and redemption orders for ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. The foregoing shall only apply to US domestic ETFs that maintain DTC eligible baskets of securities. US domestic ETFs that maintain non-DTC eligible baskets of securities and US domiciled global ETFs will be processed via proprietary ETF servicing modules. However, X.X. Xxxxxx shall continue to deliver the Portfolio Composition Files to the NSCC for further dissemination to market participants.
2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement with each Authorized Participant, which shall be delivered to the J.X. X.X. Xxxxxx and which J.X. X.X. Xxxxxx, in its capacity as Index Receipt Agent, shall acknowledge.
3. In connection with the procedures that may be established from time to time between J.X. X.X. Xxxxxx and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the creation and redemption of Creation Units through the Clearing Process, J.X. X.X. Xxxxxx shall:
(a) (i) receive from the Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee for each ETF Series and (iii) transmit both files as received from the Investment Adviser and Order Taker to NSCC; ETF Agency Services Agreement – December 2010 version;
(b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains creation orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the creation of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of creation orders as received from the Distributor to NSCC; receive back from NSCC the file of creation orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such creation orders, instruct the Transfer Agent to create the appropriate number of ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account;
(c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and
(d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the creation or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series.
4. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the creation and redemption of ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such creations and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, J.X. X.X. Xxxxxx, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.
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