Creation Units. The ETF Shares of a Fund may be purchased or redeemed directly from the Fund only in aggregations of a specified number, known as a "Creation Unit." The number of ETF Shares presently constituting a Creation Unit of each Fund is set forth in Annex I. Creation Units of ETF Shares may be purchased only by or through an entity that is a participant in The Depository Trust Company ("DTC") and that has entered into an Authorized Participant Agreement with the Distributor.
Appears in 3 contracts
Sources: Agency Services Agreement (Fidelity Commonwealth Trust), Authorized Participant Agreement (Fidelity Commonwealth Trust), Authorized Participant Agreement (Fidelity Commonwealth Trust)