SHORT SETTLEMENT TRANSACTIONS. With respect to short settlement transactions, as may be permitted for certain Funds from time to time, each Trust may assess a cash collateral buffer as a percentage of the total order value. The cash collateral buffer would be added to the Cash Component of the basket. On the Business Day following the trade date of a short settlement transaction, each Trust will calculate the true-up amount and either instruct a return wire to the Participant with all or a portion of the cash collateral or require additional funds from the Participant. Each Trust requires the true-up amount from the Participant to be paid same day. 1. PLACING A REDEMPTION ORDER.
Appears in 2 contracts
Sources: Authorized Participant Agreement (New York Life Investments Active ETF Trust), Authorized Participant Agreement (New York Life Investments ETF Trust)
SHORT SETTLEMENT TRANSACTIONS. With respect to short settlement transactions, as may be permitted for certain Funds from time to time, each the Trust may assess a cash collateral buffer as a percentage of the total order value. The cash collateral buffer would be added to the Cash Component of the basket. On the Business Day business day following the trade date of a short settlement transaction, each the Trust will calculate the true-up amount and either instruct a return wire to the Participant with all or a portion of the cash collateral or require additional funds from the Participant. Each The Trust requires the true-up amount from the Participant to be paid same day.
1. PLACING A REDEMPTION ORDER.
Appears in 1 contract
Sources: Authorized Participant Agreement (Lazard Active ETF Trust)