Securities Borrowing and Lending. In the event that we apply Securities or Securities Collateral in accordance with Clause 8.1(a) of this Section, we may either:
Securities Borrowing and Lending. E1. The Customer acknowledges and agrees that where the Customer has requested, on the Application Form, to borrow securities through the SBL Account with DBS Xxxxxxx inter alia for purposes of delivery to settle a proposed sale on SGX-ST or subsequent to the date of the Application Form, the Customer has requested to borrow securities through the SBL Account with DBS Xxxxxxx, the Customer agrees to comply with the terms and conditions in this Section E which shall apply in addition to all other terms and conditions in the other sections of this Agreement and all other documents pertaining to the SBL Account. For this purpose, the Customer requests that DBS Xxxxxxx opens and maintains for the Customer a SBL Account. The Customer represents and warrants that it is eligible to apply for and open a SBL Account, based on the criteria determined from time to time by DBS Xxxxxxx. DBS Xxxxxxx agrees to open and maintain the SBL Account. Subject to the terms and conditions herein, on any Market Day during DBS Xxxxxxx’ business hours and on each occasion when the Customer wishes to borrow securities to meet its obligations for a proposed sale on the SGX-ST, the Customer shall submit to DBS Xxxxxxx a request (the “Borrowing Request”) to borrow securities (as specified in the Borrowing Request) for the purposes of settling the proposed sale on the SGX-ST. DBS Xxxxxxx shall be entitled to determine from time to time and at its absolute discretion such minimum limits and/or other criteria for a Borrowing Request and/or loan of securities, and the Customer agrees to comply with such minimum limits and/or other criteria. Such Borrowing Request may be made by a Customer through any means of communication and agents (including the Customer’s Trading Representative). The Customer shall not be entitled to revoke such Borrowing Request and DBS Xxxxxxx shall be entitled to treat the Borrowing Request as irrevocable. The Customer agrees that DBS Xxxxxxx is not obliged to accept and act upon a Borrowing Request and may refuse at any time and at its absolute discretion to do so or to continue doing so without providing any reason. The Customer agrees that DBS Xxxxxxx may from time to time and at its discretion establish and review borrowing and position limits for the Customer, and the Customer agrees to comply with, and not to exceed, such limits. E2. DBS Xxxxxxx will notify the Customer whether the securities are available for borrowing and a notification that such securities a...
Securities Borrowing and Lending. The SEHK has announced that securities borrowing and lending will be permitted for eligible China Connect Securities as specified by the relevant China Connect Market for the purpose of (a) covered short selling and (b) satisfying the Pre-Trade Checking requirement. Securities borrowing and lending of eligible China Connect Securities will be subject to restrictions set by SEHK and the relevant China Connect Market, including but not limited to the following:
Securities Borrowing and Lending. When the Customer borrows securities he/she will be required to deposit a required level of collateral. The Customer may be called upon at short notice to place additional deposits if the level of collateral is inadequate in relation to the market value of borrowed securities. If the required deposit is not made within the prescribed time, the firm may buy-back the borrowed securities without prior notification to the Customer. When the Customer lends securities to the firm, the Customer temporarily loses legal ownership rights to the securities but in place, has a right to claim equivalent securities and dividends.
