Rules of Central Securities Depositories Clause Samples
The "Rules of Central Securities Depositories" clause establishes that transactions involving securities held or settled through a central securities depository (CSD) are subject to the rules and procedures of that depository. In practice, this means that the transfer, settlement, and registration of securities must comply with the operational guidelines, timelines, and dispute resolution mechanisms set by the relevant CSD, such as Euroclear or DTC. This clause ensures that all parties recognize and adhere to the standardized processes of the CSD, thereby reducing operational risk and promoting efficient, orderly settlement of securities transactions.
Rules of Central Securities Depositories. Where the Custodian or its Subcustodians use CSDs, the Client acknowledges that they will do so in accordance with the terms and conditions of participation or membership in such CSDs and the rules and procedures governing the operation thereof.
Rules of Central Securities Depositories. Where the Custodian or its Subcustodians use CSDs, the Client acknowledges that they will do so in accordance with the terms and conditions of participation or membership in such CSDs and the rules and procedures governing the operation thereof. 15A.1 Each Client identified on Appendix A as an “ETF Client” is an exchange-traded fund that will issue and redeem shares only in aggregations of a specified number of shares, each called a “Creation Unit,” generally in exchange for a basket of securities and/or instruments and a specified cash payment, as more fully described in the Client’s currently effective prospectus and statement of additional information (collectively, the “Prospectus”). Capitalized terms used in this Section 15A without definition shall have the meanings given to them in the Prospectus. Information Classification: Limited Access 7