Miscellaneous Credits. Pershing credits to your account funds belonging to you such as dividends, interest, redemptions and proceeds of corporate reorganizations on the day such funds are received by us. These funds come to us from issuers and various intermediaries in which we are participants, such as the Depository Trust Company. Periodically, certain of those intermediaries pass on to their participants some or all of the interest earned on funds while in the possession of the intermediary. To the extent Pershing receives such payments, we retain them. Information regarding when Pershing credits your account with funds due you, when those funds are available to you and/or when you begin earning interest on those funds is available from your financial institution.
Appears in 4 contracts
Samples: Customer Agreement, Customer Agreement, Customer Agreement
