Universal Accounts Sample Clauses

Universal Accounts. An IB Universal Account is two underlying accounts, an SEC-regulated securities account and a CFTC-regulated commodity account. Customer authorizes transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and acknowledges IB may liquidate positions to cover obligations in the other account. Customer authorizes IB to provide combined confirmations/statements for both accounts. Customer acknowledges that only assets in the securities account are covered by SIPC protection and excess coverage and not assets in the commodity account.
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Universal Accounts. IB UK utilizes the services of its U.S. affiliate Interactive Brokers LLC (“IB LLC”) to execute, clear and carry position and assets for Customer accounts. An IB UK Universal Account is two underlying accounts on the books and records of IB LLC: an SEC-regulated securities account and a CFTC-regulated commodity account. Customer authorizes transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and acknowledges IB UK may liquidate positions to cover obligations in the other account. Customer authorizes IB UK to provide combined confirmations/statements for both accounts. CUSTOMER ACKNOWLEDGES THAT ONLY ASSETS IN THE SECURITIES ACCOUNT ARE COVERED BY SIPC PROTECTION AND EXCESS COVERAGE AND NOT ASSETS IN THE COMMODITY ACCOUNT.
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Universal Accounts. An IBKR "Universal Account" is comprised of two underlying accounts: an SEC- regulated securities account and a CFTC-regulated commodity account. Client authorizes IBKR to make transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and to liquidate positions in one account to cover obligations in the other account. While IBKR may (but is not required to) provide a mechanism for Client to express a preference regarding in which account cash awaiting investment should be held, excess cash may be swept from one account to the other by IBKR to provide excess coverage for margin or other obligations at IBKR's sole discretion. Client authorizes IBKR to provide combined confirmations/statements for both accounts. Only assets in the securities account are covered by SIPC protection and excess coverage; SIPC does not cover assets in the commodity account.
Sample 1
Universal Accounts. Interactive offers the opportunity to maintain a Universal Account, which allows trading of securities, options, futures and other products through Interactive in a single screen environment. The Sub-Accounts established by Introducing Broker may offer Universal Account functionality and if so will consist of two underlying Sub-Accounts, a securities trading Sub-Account and a futures trading Sub-Account. Introducing Broker expressly authorizes Interactive to transfer cash at any lime between and among Introducing Broker’s underlying securities and futures Accounts (or Sub-Accounts) to cover any obligations (e.g., funds needed for purchase of investment products) or Margin Requirements or Sub-Account Risk Management Requirements. Introducing Broker further expressly authorizes Interactive to liquidate positions in the underlying securities or commodity Account (or Sub-Account) to cover any Margin deficit or Sub-Account Risk Management Requirement deficit in the other Account (or Sub-Account), in accordance with, the liquidation provisions above.
Sample 1
Universal Accounts. A. If Introducing Broker wishes to execute trades for securities, options, futures and other products through Interactive in a single screen environment and receive combined statements reflecting trades for various products. Introducing Broker may utilize Interactive’s “Universal Account” function. Introducing Broker acknowledges that an Interactive Universal Account consists of two underlying accounts, a securities trading account maintained pursuant to SEC regulations and a futures trading account maintained pursuant to CFTC regulations. Introducing Broker understands and acknowledges that the Universal Account is actually two separate accounts for bookkeeping and regulatory purposes. Introducing Broker authorizes Interactive to combine information regarding the separate securities and futures accounts, including but not limited to trade confirmations and position and margin information, into a single statement sent to Introducing Broker. To the extent Interactive maintains Sub-Accounts for Introducing Broker as an administrative service, with each Sub-Account being used for trading of an Introducing Broker Customer Account, Interactive may combine information regarding the separate securities Sub-Account and futures Sub-Account for each broker Customer, including but not limited to trade confirmations and position and margin information, into a single statement sent to introducing Broker for that Customer.
Sample 1

Related to Universal Accounts

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"):

  • Financial Accounts Exhibit E, as may be updated by the Borrower in a written notice provided to Agent after the Closing Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

  • Management Accounts The Management Accounts:

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • New Accounts Contractor may ask State Agencies and other Authorized Users to provide information in order to facilitate the opening of a customer account, including documentation of eligibility to use New York State Contracts, agency code, name, address, and contact person. State Agencies shall not be required to provide credit references.

  • Bank Accounts; Cash Balances (a) Each Party agrees to take, or cause the members of its Group to take, at the Effective Time (or such earlier time as the Parties may agree), all actions necessary to amend all contracts or agreements governing each bank and brokerage account owned by SpinCo or any other member of the SpinCo Group (collectively, the “SpinCo Accounts”) and all contracts or agreements governing each bank or brokerage account owned by Parent or any other member of the Parent Group (collectively, the “Parent Accounts”) so that each such SpinCo Account and Parent Account, if currently linked (whether by automatic withdrawal, automatic deposit or any other authorization to transfer funds from or to) to any Parent Account or SpinCo Account, respectively, is de-linked from such Parent Account or SpinCo Account, respectively.

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