Authorized Participant definition
Authorized Participant means a Person that, at the time of submitting a Purchase Order or a Redemption Order (i) is a registered broker-dealer, (ii) is a DTC Participant or an Indirect Participant and (iii) has in effect a valid Authorized Participant Agreement.
Authorized Participant shall have the meaning ascribed to the term in the introductory paragraph of the Authorized Participant Agreement.
Authorized Participant means any entity that (i) is a registered broker-dealer and a member in good standing with the NASD, or a participant in the securities markets such as a bank or other financial institution that is not required to register as a broker-dealer or be a member of the NASD in order to engage in securities transactions, (ii) is a participant in DTC or has indirect access to the clearing facilities of DTC by virtue of a custodial relationship with a DTC Participant, (iii) is not a Benefit Plan Investor and (iv) has entered into a Participants Agreement.
Examples of Authorized Participant in a sentence
Any slippage incurred (including, but not limited to, any trading fees, spreads, or commissions), on a cash equivalent basis, will be the responsibility of the Authorized Participant and not of the applicable Trust or Sponsor.
The Authorized Participant shall have no obligation to submit a Purchase Order ever hereunder.
Except as provided herein, all Purchase Orders of the Authorized Participant shall be accepted by the Sponsor and the Order Examiner when submitted in good form.
The Authorized Participant shall have no obligation to submit a Redemption Order ever hereunder.
Except as provided herein, all Redemption Orders of the Authorized Participant shall be accepted by the Sponsor and the Order Examiner and shall be accepted when submitted in good form.
More Definitions of Authorized Participant
Authorized Participant means a person who (1) is a registered broker-dealer under the Securities Exchange Act of 1934 and is a member in good standing of the Financial Industry Regulatory Authority (“FINRA”) or other securities market participant such as a bank or other financial institution that is not required to register as a broker-dealer or be a member of FINRA to engage in securities transactions, (2) is a participant in DTC and (3) has entered into an Authorized Participant Agreement. Only Authorized Participants may place orders to create or redeem one or more Creation Baskets.
Authorized Participant means a broker-dealer or other participant in the Continuous Net Settlement System of the National Securities Clearing Corporation (NSCC) or a participant in DTC with access to the DTC system, and who has executed an agreement with the Distributor that governs transactions in the Fund’s Creation Units.
Authorized Participant means an entity that:
Authorized Participant. ’ means a financial institu-
Authorized Participant means an individual or institution that has entered into an Authorized Participant Agreement with the Trust and the Trust’s Distributor that is authorized to purchase and redeem Creation Units of Funds within the Trust.
Authorized Participant shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement.
Authorized Participant means a Person that, at the time of submitting to the Administrative Trustee, or any trust administrator appointed by the Administrative Trustee, a Purchase Order or a Redemption Order (a) is a registered broker-dealer and, if required in connection with its activities, a registered futures commission merchant, (b) is a DTC Participant, (c) has in effect a valid Authorized Participant Agreement and (d) is in a position to transfer CERFs and the required Short-Term Securities or cash to, or take delivery of these assets from, the Administrative Trustee through one or more accounts.