Sentences with phrase «authorized participants receive»

Authorized participants receive the same value of the underlying security in the fund after selling shares.

Not exact matches

Neither the Authorized Participants nor the Initial Purchaser will receive from the Trust or the Sponsor any compensation in connection with an offering or reoffering of the Shares.

When in the opinion of the Director of Purchase it will not create any burden or hardship upon the County and the anticipated prices will not be adversely affected thereby, the Director is authorized when he deems appropriate and as may be requested by the participants to provide in any particular County bid specification that the participants in Erie County shall have the right to make purchases based upon the bids received by the County.

A NextShares fund may also determine, upon receiving a purchase or redemption order from an Authorized Participant, to require the purchase or redemption, as applicable, to be made entirely in cash.

A NextShares fund may permit cash to be substituted for some or all of the Basket instruments when: (a) the instruments are, for the purchase of a Creation Unit, not available in sufficient quantity; (b) the instruments are not eligible for trading by the Authorized Participant or the investor on whose behalf the Authorized Participant is acting; or (c) a holder of Fund shares investing in foreign instruments would be subject to unfavorable income tax treatment if the holder receives redemption proceeds in kind.

When a NextShares fund does issue or redeem shares, the transactions are made through designated authorized participants and are normally in kind when practicable, meaning that the fund receives or delivers securities rather than cash.