Delivery Versus Payment. Correspondent agrees to comply with NYSE Rule 226 by ensuring that its Customers utilize the facilities of a securities depository for the confirmation, acknowledgment, and book entry settlement of all depository eligible transactions in connection with delivery versus payment transactions. Correspondent shall be solely and exclusively responsible for causing any Customers engaging in such transactions to utilize such facilities. Correspondent further agrees to ensure that its Customers shall provide their agent with instructions in accordance with the requirements set forth in NASD Rule 11860.
Appears in 2 contracts
Sources: Fully Disclosed Clearing Agreement (Hudson Holding Corp), Fully Disclosed Clearing Agreement (Broadpoint Securities Group, Inc.)