Sentences with phrase «of authorized participants»

ETFs trade intraday (i.e. at any time during trading hours) and any time the price diverges too far from the underlying assets, one of the authorized participants has an incentive to make a small profit by creating or destroying units of the ETF, also intraday.

Large and active funds tend to have a greater number of authorized participants.

The Initial Purchaser will not act as an Authorized Participant with respect to the initial Baskets, and its activities with respect to the initial Baskets will be distinct from those of an Authorized Participant.

The Trustee will create Shares only in Baskets (a Basket equals a block of [50,000] Shares) and only upon the order of an Authorized Participant.

acting on behalf of either which the Trustee believes is given as authorized by the Trust Agreement or a custody agreement, respectively, or (2) from or on behalf of any Authorized Participant which the Trustee believes is given pursuant to, or is authorized by, an Authorized Participant Agreement (provided that the Trustee has complied with the verification procedures specified in the Authorized Participant Agreement).

A copy of the Authorized Participant Agreement may be obtained by potential Authorized Participants from the Trustee.

Not exact matches

Unlike Bitcoin, JPMorgan's blockchain Quorum is private, or «permissioned,» meaning that only authorized participants can join the network of machines that maintains it.

Except for those executives who have an employment agreement that expressly provides for payment of an Award under the Bonus Plan in limited circumstances, in the event a participant's employment is terminated for any reason prior to the date of payment of an Award under the Bonus Plan, such participant will not be entitled to any bonus under the Bonus Plan, provided that in the event that a participant's employment terminates during the performance period due to (i) death or (ii) disability, the Committee may, at its sole discretion, authorize the Company to pay, on a prorated basis, an Award determined in accordance with the terms and conditions of Bonus Plan.

When authorized participants — the special ETF market makers who have the ability to make and destroy ETF shares — wish to redeem their ETF shares, they can do so by trading them in to the issuer, which delivers an equivalent amount of the ETF's underlying holdings in an «in - kind» transaction.

Authorized participants may wish to invest in the ETF shares long - term, but usually act as market makers on the open market, using their ability to exchange creation units with their basic securities to provide liquidity of the ETF shares and help ensure that their intraday market price approximates to the net asset value of the underlying assets.

ETF shares are created when an authorized participant deposits a portfolio of stocks into the fund in exchange for an institutional block of ETF shares (usually 50,000).

As of the date of this prospectus, -LSB--RSB- have each signed an Authorized Participant Agreement with the Trust and, upon the effectiveness of such agreement, may create and redeem Baskets as described above.

The Trustee will use commercially reasonable efforts to complete the transfer of Bitcoins to the Trust Custody Account prior to the time by which the Trustee is to credit the Basket to the Authorized Participant's DTC account.

In the event that one or more Authorized Participants having substantial interests in Shares or otherwise responsible for a significant portion of the Shares» daily trading volume on the [EXCHANGE] withdraw from participation, the liquidity of the Shares will likely decrease, which could adversely affect the market price of the Shares and adversely affect an investment in the Shares.

Holders of Shares of the Trust may redeem their Shares at any time acting through an Authorized Participant and in the prescribed aggregations of [50,000] Shares; provided, however, that redemptions of Shares may be suspended during any period in which regular trading on the [EXCHANGE] is suspended or restricted, or in which an emergency exists as a result of which delivery, disposal or evaluation of Bitcoins is not reasonably practicable.

Authorized Participants are cautioned that some of their activities will result in their being deemed participants in a distribution in a manner which would render them statutory underwriters and subject them to the prospectus - delivery and liability provisions of the Securities Act of 1933, as amended («Securities Act»), as described in «Plan of DistribuParticipants are cautioned that some of their activities will result in their being deemed participants in a distribution in a manner which would render them statutory underwriters and subject them to the prospectus - delivery and liability provisions of the Securities Act of 1933, as amended («Securities Act»), as described in «Plan of Distribuparticipants in a distribution in a manner which would render them statutory underwriters and subject them to the prospectus - delivery and liability provisions of the Securities Act of 1933, as amended («Securities Act»), as described in «Plan of Distribution.»

Prior to the delivery of the redemption distribution for a redemption order, the Authorized Participant must also have wired to the Trustee the non-refundable Transaction Fee due for the redemption order.

Under each agreement between the Trustee and an Authorized Participant to establish an Authorized Participant Custody Account («Authorized Participant Custody Account Agreement»), the Trustee is not contractually or otherwise liable for any losses suffered by any Authorized Participant or Shareholder that are not the direct result of its own gross negligence, fraud or willful default in the performance of its duties under such agreement, and in no event will its liability exceed the market value of the Bitcoins in the Authorized Participant Custody Account at the time such gross negligence, fraud or willful default is discovered by the Trustee.

An Authorized Participant Custody Account will be used to facilitate the deposit and withdrawal of Bitcoins by an Authorized Participant in the process through which they directly create and redeem Shares of the Trust.

The procedures by which an Authorized Participant can redeem one or more Baskets will mirror the procedures for the creation of Baskets.

To the extent that aggregate short exposure exceeds the number of Shares available for purchase (for example, in the event that large redemption requests by Authorized Participants dramatically affect Share liquidity), investors with short exposure may have to pay a premium to repurchase Shares for delivery to Share lenders.

A transfer of Bitcoins from the Trust Custody Account may only be made as follows: (1) by transferring Bitcoins to an Authorized Participant Custody Account in connection with a redemption of one or more Baskets; (2) by transferring Bitcoins to the Sponsor's Custody Account to pay the Sponsor's Fee; (3) by delivering the Bitcoins to such party as the

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.

In addition to, and independent of, the initial purchases by the Initial Purchaser (described below), the Trust will issue Shares in Baskets to Authorized Participants in exchange for deposits of Bitcoins on a continuous basis.

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.

As an authorized user of the Formative Assessment for Michigan Educators (FAME) website, I understand any and all materials and resources I access through this website are for my personal use and for use with my Learning Team, as a registered participant in the Formative Assessment for Michigan Educators (FAME) project.

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

Issuers can use the services of one or more authorized participants for a fund.

If it is an exchange - traded fund, then the question becomes how well are authorized participants taking advantage of the spread to make the fund track the index well?

When market makers and other large investors accumulate sufficient shares of a NextShares fund, they can redeem their shares from the fund by transacting through intermediaries called Authorized Participants.

Mauro: Creations and redemptions are done primarily using an «in - kind» process where authorized participants (APs, or bond broker - dealers) deliver bonds in order to create shares or redeem bonds out of the ETF to redeem shares.

Each Business Day, Fund portfolio holdings information will be provided to the Distributor or other agent for dissemination through the facilities of the NSCC and / or other fee - based subscription services to NSCC members and / or subscribers to those other fee - based subscription services, including Authorized Participants, and to entities that publish and / or analyze such information in connection with the process of purchasing or redeeming Creation Units or trading shares of the Fund in the secondary market.

The underlying securities that form the index actually come from folks who are called Authorized Participants (basically a market maker or a large institutional investor who has access to large amounts of those securities).

Daily access to information concerning the Fund's portfolio holdings also is permitted (i) to certain personnel of those service providers that are involved in portfolio management and providing administrative, operational, risk management, or other support to portfolio management, including affiliated broker - dealers and / or Authorized Participants, and (ii) to other personnel of the Advisor, Sub-Advisor, and other service providers, such as the Administrator, and fund accountant, who deal directly with, or assist in, functions related to investment management, administration, custody and fund accounting, as may be necessary to conduct business in the ordinary course in a manner consistent with agreements with the Fund and / or the terms of the Fund's current registration statement.

Authorized participants (APs) were net purchasers of domestic equity ETFs (+ $ 5.7 billion), adding money to the group also for a first week in four.

Authorized participants (APs) were net redeemers of domestic equity ETFs -LRB-- $ 0.5 billion), removing money from the group for the first week in three.

The process of creation / redemption involves a few large specialized investors, known as authorized participants (APs).

When I search for explanations of how index - tracking ETFs avoid tracking error, the following explanation is normally given: ETFs allow certain Authorized Participants to trade the underlying assets...

A special class of institutional investors known as «authorized participants» (APs) have the ability to create or destroy shares of the ETF at any time.

Validly submitted orders to purchase and redeem Creation Units are accepted from Authorized Participants until the close of regular trading on the New York Stock Exchange, generally 4:00 pm eastern time, on the business day that the order is placed.

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.

The authorized participant makes most of his or her commissions from the bid - ask spread of the ETF and on price differences between the stocks making up the ETF and the ETF itself.

Authorized participants (APs) were net purchasers of domestic equity ETFs (+ $ 18.7 billion), injecting money into the group also for the second week in three.

The ETFs are managed by an authorized participant (also referred to as a market maker or specialist), with the stocks themselves typically loaned out of different pension funds.

Because ETFs are created from a large pool of equities, the authorized participant is typically a leading money management firm such as Barclays Global Investors.

Authorized Participants This term typically refers to large financial institutions, such as specialist firms and market makers, which are involved in the creation and redemption activity of exchange - traded funds.

In the event the Depository or the U.S. bank of which it is a branch becomes insolvent, the Depository's assets might not be adequate to satisfy a claim by the Trust or any Authorized Participant for the amount of Swiss Francs deposited by the Trust or the Authorized Participant, in such event, the Trust and any Authorized Participant will generally have no right in or to assets other than those of the Depository.

Fund sponsors are responsible for providing that information only to authorized participants who are the direct owners of creation units.

Hartford Funds has partnered with some of the most experienced lead market makers and authorized participants (APs) in the country to help investors achieve better execution prices when trading Hartford Multifactor ETFs.

While closed - end funds often trade at a premium or discount because they have a fixed number of shares outstanding, market makers work with authorized participants (APs) to strive to keep the price of ETF shares close to fair value (i.e., in line with the ETF's underlying net asset value (NAV)-RRB-.