Riskless principal transaction definition

Riskless principal transaction means a transaction in which a dealer buys a security from any person and makes a simultaneous offsetting sale of such security to a qualified institutional buyer, including another dealer acting as riskless principal for a qualified institutional buyer.

Riskless principal transaction means a transaction in which, after having re- ceived an order to buy from a cus- tomer, the bank purchased the security from another person to offset a con- temporaneous sale to such customer or, after having received an order to sell from a customer, the bank sold the security to another person to offset a contemporaneous purchase from such customer.[72 FR 56567, Oct. 3, 2007] § 240.3a5–3 Exemption from the defini- tion of ‘‘dealer’’ for banks engaging in securities lending transactions.

Riskless principal transaction means a transaction in which a broker or dealer after having received an order from an issuer to buy its security, buys the security as principal in the market at the same price to satisfy the issuer’s buy order. The issuer’s buy order must be effected at the same price per-share at which the broker or dealer bought the shares to satisfy the issuer’s buy order, exclusive of any explicitly dis- closed markup or markdown, commis- sion equivalent, or other fee. In addi- tion, only the first leg of the trans- action, when the broker or dealer buys the security in the market as principal, is reported under the rules of a self-reg- ulatory organization or under the Act. For purposes of this section, the broker or dealer must have written policies and procedures in place to assure that, at a minimum, the issuer’s buy order was received prior to the offsetting transaction; the offsetting transaction is allocated to a riskless principal ac- count or the issuer’s account within 60 seconds of the execution; and the broker or dealer has supervisory sys- tems in place to produce records that enable the broker or dealer to accu- rately and readily reconstruct, in a time-sequenced manner, all orders ef- fected on a riskless principal basis.

Examples of Riskless principal transaction in a sentence

• Riskless principal transaction means a transaction in which a banking entity, after receiving an order from a cus- tomer to buy (or sell) a security, pur- chases (or sells) the security in the sec- ondary market for its own account to offset a contemporaneous sale to (or purchase from) the customer.[79 FR 5805, Jan.

• Riskless principal transaction means a transaction in which a banking entity, after receiving an order from a cus- tomer to buy (or sell) a security, pur- chases (or sells) the security in the sec- ondary market for its own account to offset a contemporaneous sale to (or purchase from) the customer.[79 FR 6048, Jan.

• Riskless principal transaction means a transaction in which a banking entity, after receiving an order from a cus- tomer to buy (or sell) a security, pur- chases (or sells) the security in the sec- ondary market for its own account to offset a contemporaneous sale to (or purchase from) the customer.[79 FR 5779, 5804, Jan.

• Riskless principal transaction means a transaction in which a banking entity, after receiving an order from a customer to buy (or sell) a security, purchases (or sells) the security in the secondary market for its own account to offset a contemporaneous sale to (or purchase from) the customer.

• Riskless principal transaction means a transaction in which a banking entity, after receiving an order from a cus- tomer to buy (or sell) a security, pur- chases (or sells) the security in the sec- ondary market for its own account to offset a contemporaneous sale to (or purchase from) the customer.[79 FR 5779, 5805, Jan.

More Definitions of Riskless principal transaction

Riskless principal transaction means a transaction in which, after having received an order to buy from a customer, the bank purchased the security from another person to offset a contemporaneous sale to such customer or, after having received an order to sell from a customer, the bank sold the security to another person to offset a contemporaneous purchase from such customer.§ 240.3a5–3 Exemptionfrom the definition of ‘‘dealer’’ for banks engaging in securities lending transactions.

Riskless principal transaction means a transaction in which a dealer buys a security from any person and makes a simultaneous offsetting sale of such security to a Qualified Institutional Buyer, including another dealer acting as riskless principal for a Qualified Institutional Buyer. B. “U.S. person” means: (1) Any natural person resident in the United States;

Riskless principal transaction means a principal transaction where a member, after having received [from a customer] an order to buy, purchases the security as principal [from another member or customer] to satisfy the order to buy or, after having received [from a customer] an order to sell, sells the security as principal [to another member or customer] to satisfy the order to sell.

Riskless principal transaction means a transaction in which a Financial Institution, after having received an order from a Retirement Investor to buy or sell an asset, purchases or sells the asset for the Financial Institution's own account to offset the contemporaneous transaction with the Retirement Investor. A Riskless Principal Transaction is not a Covered Principal Transaction.

Riskless principal transaction means a principal transaction where a member, after having received from a customer an order to buy, purchases the security as principal from another member or customer to satisfy the order to buy or, after having received from a customer an order to sell, sells the security as principal to another member or customer to satisfy the order to sell. Two principal transactions occur at the same price but are only reported once as an agency transaction. This is a principal transaction that synthesizes an agency transaction by removing the risks involved with holding a position.

Riskless principal transaction means a transaction in which a Financial Institution, after having received an order from a Retirement Investor to buy or sell an

Riskless principal transaction means a transaction in which a dealer buys a