Examples of CMU Member in a sentence
For the avoidance of doubt, HKSCC will not be responsible in any way for the failure or delay of a Participant, a Recognized Dealer or a CMU Member to effect a transfer in accordance with a Transfer Instruction, irrespective of whether the transfer is specified to be effected on a free of payment basis or a delivery versus payment basis in CMU.
Transfer Instructions to effect transfers of Exchange Fund Notes, Government Bonds or Specified Instruments between a Participant and a Recognized Dealer and Transfer Instructions to effect transfers of CMU Instruments between a Participant and a CMU Member are also accepted for settlement between CCASS and CMU.
A Participant must complete an appropriate Transfer Instruction Form as set out in the CCASS Terminal User Guide for each transfer of Exchange Fund Notes, Government Bonds or Specified Instruments between it and a Recognized Dealer and for each transfer of CMU Instruments between it and a CMU Member.
The CMU is only available to CMU Notes issued by a CMU Member or by a person for whom a CMU Member acts as agent for the purposes of lodging instruments issued by such persons.
Transfer Instructions to effect transfers of Exchange Fund Notes or Specified Instruments between a Participant and a Recognized Dealer and Transfer Instructions to effect transfers of CMU Instruments between a Participant and a CMU Member are also accepted for settlement between CCASS and CMU.
Instead, the HKMA advises the lodging CMU Member (or a designated paying agent) of the identities of the CMU Members to whose accounts payments in respect of the relevant CMU Notes are credited, whereupon the lodging CMU Member (or the designated paying agent) will make the necessary payments of interest or principal or send notices directly to the relevant CMU Members.
Each CMU Member segregates Bond Connect securities in accordance with the terms of the respective sub-custodian agreement as set out in the UCITS and AIFMD guidelines.
Securities transfers are processed in CMU as follows: · Transfer instructions are matched (please refer section V.A above); · For real time DvP, the seller initiates the process by sending a settlement message through its CMU Member Terminal (CMT) to the buyer.
Each of the Principal Paying Agent and the CMU Lodging Agent confirms that it is a CMU Member pursuant to a CMU Membership Agreement dated 11 January 1994 (the “Membership Agreement”) and is aware of and in compliance with the terms of the CMU Rules.
Chairman William O’Brien called the meeting to order at 4:30 p.m.