Axos Clearing definition

Axos Clearing or “Borrower”) and the undersigned party or parties (“Lender” or “You”), and shall be effective as of the date of execution by You set forth below (the “Effective Date”). THIS AGREEMENT SHOULD NOT BE SIGNED BY YOU UNTIL AFTER: (1) YOU HAVE READ AND FULLY UNDERSTAND THE SEPARATE DOCUMENT ENTITLED IMPORTANT DISCLOSURES REGARDING RISKS AND CHARACTERISTICS OF PARTICIPATING IN AXOS CLEARING’S FULLY-PAID SECURITIES LENDING PROGRAM (THE “PROGRAM”), WHICH DESCRIBES MANY OTHER RISKS AND CHARACTERISTICS OF THE PROGRAM; AND (2) YOU AND YOUR INTRODUCING FIRM HAVE DETERMINED THAT PARTICIPATION IN AXOS CLEARING’S PROGRAM IS APPROPRIATE FOR YOU AFTER CONSIDERING YOUR FINANCIAL SITUATION AND NEEDS, TAX STATUS, INVESTMENT OBJECTIVES, INVESTMENT TIME HORIZON, LIQUIDITY NEEDS, RISK TOLERANCE, AND ANY OTHER RELEVANT INFORMATION. IN EXECUTING THIS AGREEMENT, YOU ACKNOWLEDGE THAT BOTH OF THESE CONDITIONS HAVE BEEN SATISFIED.
View Source
Axos Clearing means Axos Clearing LLC, its successors and assigns; and “You”, “Your”, and/or “Customer” means the customers identified in the application for opening the RIA Account. In consideration of Axos Clearing opening, carrying, and/or serving as custodian for one or more RIA Accounts on Your behalf, You hereby agree as follows with respect to the RIA Account, which You have established with Axos Clearing for the purchase, sale, and/or carrying of securities or contracts relating thereto and/or the borrowing of funds, at the instruction of Your registered investment advisor as authorized by You in the RIA Account application (“Advisor”), which transactions will be cleared through Axos Clearing.
View Source

Examples of Axos Clearing in a sentence

  • If for any reason Axos Clearing delays or forgoes for a period the enforcement of its margin requirements, Axos Clearing’s subsequent enforcement or right to enforce is not thereby waived.

  • Your failure to satisfy the call may cause Axos Clearing to liquidate or sell securities in your account(s).

  • For any securities held by Axos Clearing as property on margin under this Margin Agreement or as collateral for your obligations under this Margin Agreement, you authorize Axos Clearing to lend such securities, either separately or with other securities, to itself or to other entities.

  • You shall pay interest on credit extended by Axos Clearing under this Margin Agreement for the purpose of purchasing, carrying or trading securities.

  • You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold by Axos Clearing to meet a margin call.

  • Upon such written revocation, and payment for all balances due to Axos Clearing, Axos Clearing will deliver such securities to you if so requested.

  • You further represent that you are not controlled by or in control of any issuer of any security you have provided as collateral to Axos Clearing.

  • Until written revocation confirmation is received by Axos Clearing or your Broker, this Margin Agreement constitutes your continuing consent to effect securities lending transactions.

  • Axos Clearing and/or your Broker may increase its “house” maintenance margin requirements at any time and is not required to provide you with advance notice.

  • In any such event, and without further notice, you authorize Axos Clearing and/or your Broker to (i) sell any securities held in your account(s); (ii) buy any securities which may be short; (iii) cancel any open order; (iv) to close any outstanding order; and (v) otherwise take any action deemed necessary to comply with applicable statutes, rules and regulations or any other requirements governing your margin account.

Related to Axos Clearing

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.