Examples of Sending Member in a sentence
For any Held Funds, MA, after confirmation with the relevant GTRS, may manually process the Held Funds to release the Held Funds to the Sending Member or the Receiving Member, as the case may be.
In the event that the relevant GTRS cannot confirm that the corresponding security transactions will be settled, Held Funds will be released to the Sending Member at a time pre-defined by MA as stipulated in Operating Procedures.
Settlement of a CHATS Payment Instruction Value Today will be effected across the books of MA pursuant to Rule 3.1.3 by debiting the CHATS Ledger Account of the Sending Member for the funds transferred and crediting the same to the CHATS Ledger Account of the Receiving Member.
If a Receiving Member is unable to apply funds from a credit transfer for any reason, then that Receiving Member must send the funds actually received through CHATS back to the original Sending Member in accordance with the procedure set out in Rule 6.6.1.
Receiving Members should rely on the detailed transaction listing sent by the Sending Member and CLS Pay-out details from HKICL for internal posting and reconciliation purposes.