Examples of default fund in a sentence
The Clearing Member further undertakes to enter into a control agreement between the Clearing Member, SIX SIS AG and Eurex Clearing AG in respect of all securities which are at present or are in the future deposited in the Swiss Default Fund Pledged Securities Account.
If the Swiss Default Fund Pledged Securities Account has been established pursuant to Clause 2.1.3, in order to make Contributions to the Default Fund in accordance with the General Clearing Provisions, the Clearing Member hereby pledges to Eurex Clearing AG Swiss intermediated securities which are at present or are in the future deposited in the Swiss Default Fund Pledged Securities Account.
If an investment option is eliminated from the Default Portfolio, and you do not provide new investment instructions, you authorize and direct us to liquidate your balances invested in the eliminated investment option and transfer the proceeds to the Default Fund in your Investment Account.
Funds held in your Cash Account and in the interest-bearing FDIC-insured account (if the interest-bearing FDIC-insured account is selected as the Default Fund) in your Investment Account are used by us for general banking purposes and may generate income to us.
The Default Fund may be an interest-bearing FDIC-insured account or a money market mutual fund or similar investment fund within your Investment Account.