Examples of Buying Member in a sentence
In the event that nil paid rights are delivered by a Selling Member after the last time for delivery, the Clearing House will attempt to deliver the securities back to the Selling Member, who will remain liable for delivering the chosen option as required by the Buying Member.
In the situation where the Clearing House holds cross-settled, EquityClear Contracts i.e. the transaction considerations may not be equal, the Clearing House may, in its absolute discretion, charge the Buying Member and/or Selling Member such amounts as is necessary to ensure that the Clearing House does not incur a loss.
As a result, the Buying Member may not be able to deliver the underlying stock to the MPA or SIS in order to participate in the Corporate Action.
In such circumstances, the Clearing House will allow the Buying Member to submit a Buyer Election Notice or cash claim directly to the Clearing House provided such details are received by the Clearing House no later than two hours after the Deposit Deadline for SIS.
In the event that the Clearing House takes delivery of any such cash or stock from a Selling Member prior to such time but the Clearing House does not, for whatsoever reason, deliver to the Buying Member by such time, the Clearing House may deliver such cash or stock to the Buying Member as soon as reasonably practicable thereafter.