ETF Services Sample Clauses
The ETF Services clause defines the scope and terms under which exchange-traded fund (ETF) related services are provided by one party to another. It typically outlines the specific ETF services offered, such as creation and redemption of ETF shares, portfolio management, or administrative support, and may detail the responsibilities and obligations of each party involved. By clearly delineating the nature and extent of ETF services, this clause ensures both parties understand their roles and helps prevent misunderstandings or disputes regarding service expectations.
ETF Services. BRIL will perform for each Fund the ETF Services as set out in Exhibit B hereto, as may be amended from time to time. BRIL agrees to use its best efforts to perform the ETF Services on a continuous basis.
ETF Services. ▇▇▇▇ will perform for the Company the ETF Services as set out in Exhibit A hereto, as may be amended from time to time. ▇▇▇▇ agrees to use its best efforts to perform the ETF Services on a continuous basis.
ETF Services. USBGFS shall provide the following transfer agent and dividend disbursing agent services to the Trust with respect to each Fund:
ETF Services. 1) Administrator shall be responsible for preparing and providing fund data, including but not limited to, daily holdings, basket components, NAV and other data elements deemed reasonably necessary to third parties, including but not limited to the National Securities Clearing Corporation and Authorized Participants.
ETF Services. ▇▇▇▇ will perform for each Fund the ETF Services as set out in Schedule B hereto, as may be amended from time to time. ▇▇▇▇ agrees to use its best efforts to perform the ETF Services on a continuous basis.
ETF Services. Deliver end of day holdings file at close of business for basket creation.
ETF Services. The Bank shall provide the following ETF services, as applicable: Daily calculation of standard basket based on index information or sponsor supplied portfolio file • Custom or industry standard cash component calculation • Custom or industry standard cash flattening capability As needed calculation of restricted security custom baskets As needed calculation of true custom baskets for tax-management purposes (based on sponsor supplied weights) File dissemination to Client, Exchange, Indicative NAV Agent and NSCC for broadcast purposes Basket revaluation and file dissemination for settlement purposes ETF Interface – On-line Access for APs and Distributor to facilitate Creation/Redemption order processing activity. Monitor ETF shares sold and track relative to value registered with SEC This Authorized Participant Agreement (the “Agreement”), dated as of , is entered into by and among (the “Authorized Participant”), ProShares Trust II, a Delaware statutory trust (the “Trust”) and ProShare Capital Management LLC, a Maryland limited liability company, as sponsor of the Trust (the “Sponsor”).
ETF Services. USBGFS shall provide the following accounting services to the Trust with respect to each Fund:
A. Portfolio Accounting Services:
(1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.
(2) For each valuation date, obtain prices from a pricing source approved by the board of trustees of the Trust (the “Board of Trustees”) and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, procedures for determining the fair value for such securities.
(3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for each accounting period.
(4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date.
(5) On a daily basis, reconcile portfolio holdings and cash of the Fund with the Fund’s custodian and/or prime brokerage account(s).
(6) Transmit a copy of the portfolio valuation to the Fund’s investment adviser daily.
(7) Review the impact of current day’s activity on a per share basis, and review changes in market value.
B. Expense Accrual and Payment Services:
(1) For each valuation date, monitor the expense accrual amounts as directed by the Fund as to methodology, rate or dollar amount.
(2) Process and record payments for Fund expenses.
(3) Account for Fund expenditures and maintain expense accrual balances at the level of accounting detail, as agreed upon by USBGFS and the Trust.
(4) Provide expense accrual and payment reporting.
C. Fund Valuation and Financial Reporting Services:
(1) Account for Fund share purchases, sales, exchanges, transfers, dividend reinvestments, and other Fund share activity as reported by the Fund’s transfer agent on a timely basis.
(2) Determine net investment income (earnings) for the Fund as of each valuation date. Account for periodic distributions of earnings to shareholders and maintain undistributed net investment income balances as of each valuation date.
(3) Maintain a general l▇▇▇▇▇ and other accounts, books, and financial records for the Fund.
(4) Determine the net asset value of the Fund according to the accounting policies and procedures set forth in the Fund's current prospectus.
(5) Calculate per share ...