Examples of Recognized Dealer in a sentence
In addition, a Recognized Dealer may also request that specific custody accounts be opened for any of its clients who may wish their Bonds to be held by the Recognized Dealer in a separate account designated with the client’s name.
These clients may then sell the Bonds in the custody account designated under their names through the Recognized Dealer, i.e., instruction for the transfer of title in the Bonds in such custody account before maturity of the Bonds must be routed through that Recognized Dealer.
Each Recognized Dealer will have at least two securities accounts in the Register maintained by the Monetary Authority – one for its own holdings and the other for holdings of its clients.
The Bonds can be transferred from one Recognized Dealer’s securities account to the securities account of another Recognized Dealer through book entries.
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.
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.
Each Recognized Dealer will have at least two Securities Accounts in the Register maintained by the Monetary Authority - one for its own holdings and the other for the holdings of its clients.
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.
In addition, a Recognized Dealer may also request that specific custody accounts be opened for any of its clients who may wish their Notes to be held by the Recognized Dealer in a separate account designated with the client’s name.
Pursuant to Rule 1010.1(d) of BPA’s Procedures, BPA waives the requirement in Rule 1010.4(d) that an opposition to an intervention petition be filed and served 24 hours before the pre- hearing conference.