PLACING A REDEMPTION ORDER. Participants may submit Website Based Orders or Telephone/Fax Based Orders to the Transfer Agent as provided by these Procedures. NOTE THAT IF THE PARTICIPANT PLACES A TELEPHONE/FAX BASED ORDER, THE TELEPHONE CALL OR FAX IN WHICH THE CONFIRMATION NUMBER IS ISSUED INITIATES THE REDEMPTION ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE REDEMPTION ORDER. A REDEMPTION ORDER IS CONSIDERED COMPLETE ONLY UPON RECEIPT OF THE CONFIRMATION NUMBER. Redemption Orders may be initiated only on Business Days. Redemption Orders may only be made in whole Redemption Baskets of the applicable Fund. To begin a Redemption Order, the Authorized Person of the Participant may telephone the Transfer Agent at (000) 000-0000 or such other number as the Managing Owner designates in writing to the Participant. This telephone call must be made by an Authorized Person of the Participant and answered by the Transfer Agent before the Order Cut-Off Time. Upon verifying the authenticity of the Authorized Person (as determined by the use of the appropriate PIN Number), the Transfer Agent will request that the Authorized Person place the Redemption Order. To do so, the Authorized Person must provide the appropriate ticker symbol when referring to Shares of the applicable Fund. After the Authorized Person has placed the Redemption Order, the Transfer Agent will read the Redemption Order back to the Authorized Person. The Authorized Person then must confirm that the Redemption Order has been taken correctly by the Transfer Agent. If the Authorized Person confirms that Redemption Order has been taken correctly, the Transfer Agent will issue a confirmation number (the “Confirmation Number”) to the Authorized Person. All Redemption Orders may also be placed by an Authorized Person as a Website Based Order by the Order Cut-Off Time.
PLACING A REDEMPTION ORDER. Redemption Orders for Creation Units may be initiated only on days that Nasdaq (or NYSE, if Nasdaq is not open on that day) is open for trading. To begin a Redemption Order, an Authorized Person for the Participant will submit a Redemption Order via e-mail utilizing the Fidelity Nasdaq Composite Index Tracking Stock Order Form. The e-mail needs to be sent to the following e-mailbox, XXXXXX@xxx.xxx , not later than the closing time of the regular trading session of the Nasdaq (or NYSE, if Nasdaq is not open on that day) which is ordinarily 4:00 p.m. Eastern Standard Time. NFS will verify the authenticity of the Redemption Order by ensuring that the Order has been placed by an Authorized Person (verified by confirmation of its PIN) and that all the required fields for the Redemption Order ticket including (i) Participant name, (ii) ETF Shares cusip number; (iii) transaction type; (iv) unit quantity (in Creation Units); (v) trade date, and confirmation, if necessary, that the Participant holds the requisite number of ETF Shares necessary for a Creation Unit, are properly completed. Upon affirmation of the Redemption Order details, and acceptance of the Redemption Order, NFS will produce a unique Confirmation Number for the Order and e-mail the Order Confirmation back to the Authorized Person of the Participant within 15 minutes of the receipt of the e-mail by NFS. In the event that either NFS or the Authorized Participant were to experience technical difficulties that inhibit the transmission of order information by e-mail between the parties, then facsimile must be utilized. The dedicated Fax number for ETF orders is 000-000-0000. A follow-up telephone call to NFS at 000-000-0000 option 1 must be made by the Participant to confirm receipt of the fax document(s). The procedures applicable to confirmation of an e-mail order will apply to a fax order, and the Order Confirmation will be provided by fax. PLEASE NOTE: A Redemption Order is not accepted until the Confirmation Number is issued by NFS. The Redemption Order will be deemed accepted by NFS and the Confirmation Number issued at the time the original e-mail was received if all Redemption Order requirements are fulfilled at that time. In circumstances where the original Redemption Order was not complete at the time of the original e-mail, the Redemption Order will be deemed accepted and the Confirmation Number issued when all Redemption Order Order requirements have been fulfilled to the satisfaction of NF...
