Sentences with phrase «designated authorized participants»
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.
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According to Gardner's opinion, the Nationwide Trust Company agreement incorporates a number of schedules that determine what investment funds a plan participant can choose to invest his or her benefits in; determine what the default investment option is; designate the authorized representative and details its duties, acts, responsibilities and obligations; and define the rights and obligations of the self - directed brokerage accounts provider.