Common use of DTCC Clause in Contracts

DTCC. The Transfer Agent shall: (a) accept and effectuate the registration and maintenance of accounts, and the purchase and redemption of Baskets in such accounts, in accordance with instructions transmitted to and received by the Transfer Agent by transmission from DTCC on behalf of Authorized Participants; and (b) issue instructions to a Trust’s banks for the settlement of transactions between such Trust and DTCC (acting on behalf of the respective Authorized Participant).