Common use of Role of Pershing Clause in Contracts

Role of Pershing. TIAA retained Pershing to act as a clearing broker for TIAA and provide certain recordkeeping and operational services, which may include execution and settlement of securities transactions, custody of securities and cash balances, and extension of credit on margin transactions. These services are provided under a written Clearing Agreement between Pershing and TIAA. The respective roles of Pershing and TIAA, as defined within the Clearing Agreement, are outlined below.

Role of Pershing. TIAA TIAA-CREF retained Pershing to act as a clearing broker for TIAA TIAA-CREF and provide certain recordkeeping and operational services, which may include execution and settlement of securities transactions, custody of securities and cash balances, and extension of credit on margin transactions. These services are provided under a written Clearing Agreement between Pershing and TIAA-CREF. The respective roles of Pershing and TIAA-CREF, as defined within the Clearing Agreement, are outlined below.

Role of Pershing. TIAA retained Pershing to act as a clearing broker for TIAA and provide certain recordkeeping and operational services, which may include execution and settlement of securities transactions, transactions and custody of securities and cash balances, and extension of credit on margin transactions. These services are provided under a written Clearing Agreement between Pershing and TIAA. The respective roles of Pershing Xxxxxxxx and TIAA, as defined within the Clearing Agreement, are outlined below.