VALUATION AND COMPUTATION ACCOUNTING SERVICES Sample Clauses
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for each Fund: § Journalize investment, capital share and income and expense activities; § Maintain individual ledgers for investment securities; § Maintain historical tax lots for each security; § Reconcile cash and investment balances of each Fund with the Fund’s custodian and provide a Fund’s investment adviser, as applicable, with the beginning cash balance available for investment purposes upon request; § Calculate various contractual expenses; § Calculate capital gains and losses; § Calculate daily distribution rate per share; § Determine net income; § Obtain security market quotes and currency exchange rates from pricing services approved by a Fund’s investment adviser, or if such quotes are unavailable, then obtain such prices from the Fund’s investment adviser, and in either case, calculate the market value of each Fund’s investments in accordance with the Fund's valuation policies or guidelines; provided, however, that BNY Mellon shall not under any circumstances be under a duty to independently price or value any of the Fund's investments itself or to confirm or validate any information or valuation provided by the investment adviser or any other pricing source, nor shall BNY Mellon have any liability relating to inaccuracies or otherwise with respect to such information or valuations; § Compute net asset value; o Such net asset value reports and statements shall be provided to the Fund and to Authorized Participants on days when the exchange listing the Fund is operating, in each case by such means as BNY Mellon and the Fund may agree upon from time to time. § Transmit or make available a copy of the daily portfolio valuation to a Fund’s investment adviser; § Publish baskets to NSCC on for each day on which trading occurs on the NYSE; § Compute yields and portfolio average dollar-weighted maturity as applicable; and § Compute portfolio turnover rate for inclusion in the annual and semi-annual shareholder reports.
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY shall provide the following valuation and computation accounting services for the Trust: ▪ Journalize investment, capital share and income and expense activities; ▪ Maintain individual ledgers for Trust assets; ▪ Maintain certain financial books and records for the Trust, including creation and redemption books and records, and Trust accounting records; ▪ Maintain historical tax lots for Trust assets; ▪ Reconcile cash (if applicable) and investment balances of the Trust with the Trust’s custodian; ▪ Calculate various contractual expenses; ▪ Calculate capital gains and losses; ▪ Obtain quotes from pricing services as directed and approved by the Sponsor, or if such quotes are unavailable, then obtain such prices from the Sponsor, and in either case, calculate the market value of the Trust’s assets in accordance with the Trust's valuation policies or guidelines; provided, however, that BNY shall not under any circumstances be under a duty to independently price or value any of the Trust's assets itself or to confirm or validate any information or valuation provided by the Sponsor or any other pricing source, nor shall BNY have any liability relating to inaccuracies or otherwise with respect to such information or valuations; ▪ Compute net asset value, calculated in the manner described in the Trust’s Offering Materials; ▪ Transmit or make available a copy of the daily portfolio valuation to the Sponsor; ▪ Publish basket to NSCC on each day on which trading occurs on the primary exchange on which the Trust’s shares trade.
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for the Trust: ■ Journalize investment, capital share and income and expense activities; ■ Maintain individual ledgers for Trust assets;
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY shall provide the following valuation and computation accounting services for the Trust:
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for the Fund: § Journalize investment, capital share and income and expense activities;
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY shall provide the following valuation and computation accounting services for the Trust: ◾ Journalize investment, capital share and income and expense activities; ◾ Maintain individual ledgers for Trust assets; ◾ Maintain certain financial books and records for the Trust, including creation and redemption books and records, and Trust accounting records; ◾ Maintain historical tax lots for Trust assets; ◾ Reconcile cash (if applicable) and investment balances of the Trust with the Trust’s custodian; ◾ Calculate various contractual expenses; ◾ Calculate capital gains and losses; ◾ Obtain quotes from pricing services as directed and approved by the Sponsor, or if such quotes are unavailable, then obtain such prices from the Sponsor, and in either case, calculate the market value of the Trust’s assets in accordance with the Trust's valuation policies or guidelines; provided, however, that BNY shall not under any circumstances be under a duty to independently price or value any of the Trust's assets itself or to confirm or validate any information or valuation provided by the Sponsor or any other pricing source, nor shall BNY have any liability relating to inaccuracies or otherwise with respect to such information or valuations; ◾ Compute net asset value, calculated in the manner described in the Trust’s Offering Materials; ◾ Transmit or make available a copy of the daily portfolio valuation to the Sponsor; ◾ Publish basket to NSCC on each day on which trading occurs on the primary exchange on which the Trust’s shares trade. ◾ Such Net Asset Value reports and statements shall be provided to the Fund by 4:00 p.m. New York time or as soon thereafter as practicable.
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for each Fund: Transaction Processing and Review – BNY Mellon shall input and reconcile the Funds’ investment activity including, but not limited to: • Investments, including Tax lots • Income • Dividends • Capital Activity • Principal paydowns • Expense Accruals • Cash activity • Corporate actions • Compare Swap and forward valuations from the Sponsor to Swap valuations BNY Mellon receives from the Broker, if applicable • Calculation of Yields • SEC Yields and Dividend yields, when applicable Reconciliations – BNY Mellon shall reconcile the following positions against the records of the custodian or other applicable party: • Securities, Futures and Over-the-Counter (“OTC”) holdings • Cash including cash transfers, fees assessed and other investment related cash transactions • Trade Settlements • ETF Share reconciliation with DTCC • Commission expense and reimbursements, if applicable • Daily Variation Margin Securities, Futures and OTC Valuations – Using the Trust’s valuation procedures, BNY Mellon shall update each security, futures, and OTC position as to the following: • Daily Valuation • Market prices obtained from approved sources or Fair Valuation obtained from an Authorized Person of the Fund Investment Accounting • Amortization/accretion at the individual tax lot level • Determine realized and unrealized capital gains/losses • General Ledger entries • Daily accruing of expenses and other expense related transactions • Book value calculations • Trade date + 1 and/or Trade Date accounting • Daily NAV Calculation – Calculation of the NAV as of the earlier of 4:00 p.m. Eastern or close of Fund’s benchmark. The below matrix reflects mutually agreed upon NAV calculation deadlines. ProShares Ultra Silver 7:00 a.m. ProShares UltraShort Silver 7:00 a.m. ProShares Ultra Gold 10:00 a.m. ProShares UltraShort Gold 10:00 a.m. ProShares Ultra Bloomberg Crude Oil 2:30 p.m. ProShares UltraShort Bloomberg Crude Oil 2:30 p.m. ProShares UltraPro 3X Crude Oil ETF 2:30 p.m. ProShares UltraPro 3X Short Crude Oil ETF 2:30 p.m. ProShares Ultra Bloomberg Natural Gas 2:30 p.m. ProShares UltraShort Bloomberg Natural Gas 2:30 p.m. ProShares UltraShort Australian Dollar 4:00 p.m. ProShares Ultra Euro 4:00 p.m. ProShares Short Euro 4:00 p.m. ProShares UltraShort Euro 4:00 p.m. ProShares Ultra Yen 4:00 p.m. ProShares UltraShort Yen 4:00 p.m. ProShares VIX Mid-Term Futures ETF 4:15 p.m. ProShares...
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for each Fund: • Journalize investment, capital share and income and expense activities; • Maintain individual ledgers for investment securities; • Maintain historical tax lots for each security; • Reconcile cash and investment balances of each Fund with the Fund’s custodian and provide a Fund’s investment adviser, as applicable, with the beginning cash balance available for investment purposes upon request; • Calculate various contractual expenses; • Calculate capital gains and losses; • Calculate daily distribution rate per share, for daily distributing funds; • Determine net income;
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for the Trust: ◾ Journalize investment, capital share and income and expense activities; ◾ Maintain individual ledgers for Gold and other assets; ◾ Maintain historical tax lots for Fund assets; ◾ Maintain certain financial books and records for each Fund, including creation and redemption books and records, Fund accounting records, and books and records regarding Gold transfers under the Funds’ Gold Delivery Agreement ◾ Reconcile cash and investment balances of the Trust with the Trust’s custodian and provide the Sponsor, as applicable, with the beginning cash balance available for investment purposes upon request; ◾ Calculate various contractual expenses; ◾ Calculate capital gains and losses; ◾ Calculate daily distribution rate per share, as applicable; ◾ Determine net income; ◾ Obtain Gold quotes, Reference Currency quotes and currency exchange rates from pricing services approved by the Sponsor, or if such quotes are unavailable, then obtain such prices from the Sponsor, and in either case, calculate the market value of the Trust’s investments in accordance with the Trust’s valuation policies or guidelines; provided, however, that BNY Mellon shall not under any circumstances be under a duty to independently price or value any of the Trust’s investments itself or to confirm or validate any information or valuation provided by the Sponsor or any other pricing source, nor shall BNY Mellon have any liability relating to inaccuracies or otherwise with respect to such information or valuations; ◾ Compute Net Asset Value in accordance with the Trust’s Offering Materials and valuation policy and procedures; ◾ Such Net Asset Value reports and statements shall be provided to the Fund by 12:00 p.m. and 4:00 p.m. New York time or as soon thereafter as practicable, and to Authorized Participants on days when the exchange listing the Trust is operating by 12:00 p.m. and 4:00 p.m. New York time or as soon thereafter as practicable, in each case by such means as BNY Mellon and the Fund may agree upon from time to time. ◾ Transmit or make available a copy of the daily portfolio valuation to the Sponsor;
VALUATION AND COMPUTATION ACCOUNTING SERVICES. BNY Mellon shall provide the following valuation and computation accounting services for each Fund: Transaction Processing and Review – BNY Mellon shall input and reconcile the Funds’ investment activity including, but not limited to: • Investments, including Tax lots • Income • Dividends • Capital Activity • Principal paydowns • Expense Accruals • Cash activity • Corporate actions • Compare Swap and forward valuations from the Sponsor to Swap valuations BNY Mellon receives from the Broker, if applicable • Calculation of Yields • SEC Yields and Dividend yields, when applicable Reconciliations – BNY Mellon shall reconcile the following positions against the records of the custodian or other applicable party: • Securities, Futures and Over-the-Counter (“OTC”) holdings • Cash including cash transfers, fees assessed and other investment related cash transactions • Trade Settlements • ETF Share reconciliation with DTCC • Commission expense and reimbursements, if applicable • Daily Variation Margin Securities, Futures and OTC Valuations – Using the Trust’s valuation procedures, BNY Mellon shall update each security, futures, and OTC position as to the following: • Daily Valuation • Market prices obtained from approved sources or Fair Valuation obtained from an Authorized Person of the Fund Investment Accounting • Amortization/accretion at the individual tax lot level • Determine realized and unrealized capital gains/losses • General Ledger entries • Daily accruing of expenses and other expense related transactions • Book value calculations • Trade date + 1 and/or Trade Date accounting • Daily NAV Calculation – Calculation of the NAV as of the earlier of 4:00 p.m. Eastern or close of Fund’s benchmark. The below matrix reflects mutually agreed upon NAV calculation deadlines. ProShares Ultra Silver 7:00 a.m. ProShares UltraShort Silver 7:00 a.m. ProShares Ultra Gold 10:00 a.m. ProShares UltraShort Gold 10:00 a.m. ProShares Ultra Bloomberg Crude Oil 2:30 p.m. ProShares UltraShort Bloomberg Crude Oil 2:30 p.m. ProShares UltraPro 3X Crude Oil ETF 2:30 p.m. ProShares UltraPro 3X Short Crude Oil ETF 2:30 p.m. ProShares Ultra Bloomberg Natural Gas 2:30 p.m. ProShares UltraShort Bloomberg Natural Gas 2:30 p.m. ProShares UltraShort Australian Dollar 4:00 p.m. ProShares Ultra Euro 4:00 p.m. ProShares Short Euro 4:00 p.m. ProShares UltraShort Euro 4:00 p.m. ProShares Ultra Yen 4:00 p.m. ProShares UltraShort Yen 4:00 p.m. ProShares VIX Mid-Term Futures ETF 4:15 p.m. ProShares...