DCC&S Trading Sample Clauses
The DCC&S Trading clause defines the terms and conditions under which Delivery versus Payment (DvP), Clearing, Custody, and Settlement (DCC&S) services are provided for trading activities. It typically outlines the responsibilities of each party in ensuring that securities and funds are exchanged simultaneously, specifies the processes for clearing and settling trades, and may address the use of third-party custodians or clearinghouses. This clause is essential for minimizing settlement risk and ensuring that both parties fulfill their obligations in a secure and efficient manner during securities transactions.
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DCC&S Trading. If you elect to use the NSCC’s Defined Contribution Clearance and Settlement Service (DCC&S), you will transmit trades to the NSCC by the Fund’s stated deadline (currently 6:30 a.m. E.T., NSCC Transmission cycle 8) on T + 1. If you miss the transmission deadline for a DCC&S trade and do not notify Transfer Agent of that failure, any resulting as-of loss shall be your sole responsibility. If the NSCC trading platform is unavailable, you must contact Transfer Agent as soon as possible, but no later than 10:00 a.m. E.T., on T+1 to arrange alternative processing.
DCC&S Trading. 2.1. If Company elects to use the NSCC’s Defined Contribution Clearance and Settlement Service (DCC&S), Company will transmit trades to the NSCC by the Trust’s stated deadline (currently 6:30 a.m. E.T., NSCC Transmission cycle 8) on T + 1. If Company misses the transmission deadline for a DCC&S trade and does not notify the Trusts’ transfer agent of that failure, any resulting as-of loss shall be Company’s sole responsibility. If the NSCC trading platform is unavailable, Company must contact the Trust’s transfer agent as soon as possible, but no later than 9:00 a.m. E.T., on T+1 to arrange alternative processing.