Examples of Authorized Participants in a sentence
The SEC has clarified that Section 11(d)(1) does not apply to broker-dealers that are not Authorized Participants (and, therefore, do not create Creation Unit Aggregations) that engage in both proprietary and customer transactions in Shares of a Fund in the secondary market, and for broker-dealer Authorized Participants that engage in creations of Creation Unit Aggregations.
The SEC has clarified that Section 11(d)(1) does not apply to broker- dealers that are not Authorized Participants (and, therefore, do not create Creation Unit Aggregations) that engage in both proprietary and customer transactions in Shares of a Fund in the secondary market, and for broker-dealer Authorized Participants that engage in creations of Creation Unit Aggregations.
The SEC has clarified that Section 11(d)(1) does not apply to broker-dealers that are not Authorized Participants (and, therefore, do not create Creation Unit Aggregations) that engage in both proprietary and customer transactions in Shares of a fund in the secondary market, and for broker-dealer Authorized Participants that engage in creations of Creation Unit Aggregations.
The AMC engages Authorized Participants for creating liquidity for the Units of the Scheme on the Stock Exchange(s) so that investors other than Authorized Participants and Large Investors are able to buy or redeem Units on the Stock Exchange(s) using the services of a stock broker.
Most retail investors will not qualify as Authorized Participants or have the resources to buy and sell whole Creation Units.
Mode of Payment for Purchase of Units of HDFC NIFTY 50 ETF / HDFC SENSEx ETFOngoing purchases directly from the Mutual Fund would be restricted to Authorized Participants and large Investors, provided the value of units to be purchased is in Creation Unit size and in multiples thereof.
Only Authorized Participants (as defined below) may place orders to create and redeem Baskets.
Additional Authorized Participants may be added at any time, subject to the discretion of the Sponsor.
Directly with the Mutual FundThe Scheme offers units for subscription / redemption directly with the Mutual Fund in creation unit size to Authorized Participants / Large Investors only, at NAV based prices on all Business Days during an ongoing offer period.
Authorized Participants of the Trust are the only entities who may place orders to create or, if permitted, redeem Baskets.