Nominee - GMSLA Provision: Difference between revisions

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{{gmslaanat|Nominee}}
{{Manual|MSG|2010|Nominee|Clause|Nominee|short}}
Not quite the same as a [[custody]] [[nominee]] — this is more a lazy reference to the general case of an [[agent]] or [[custodian]] who handles assets and payments on your behalf. Usually a “[[nominee]]” is a more technical term for the entity a custodian or [[broker/dealer]] uses to hold [[client asset]]s entrusted to it for [[custody]], thereby keeping them utterly segregated from the [[broker]]’s own assets.
{{seealso}}
*A specific custody [[nominee]]
*[[CASS Anatomy]]

Latest revision as of 10:59, 2 July 2020

2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual™

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Clause Nominee in a Nutshell™

Use at your own risk, campers!
Nominee means an agent a Party appoints to hold its Securities or Collateral or to handle its payments;

Full text of Clause Nominee

Nominee means a nominee or agent appointed by either Party to accept delivery of, hold or deliver Securities, Equivalent Securities, Collateral and/or Equivalent Collateral or to receive or make payments on its behalf;

Related agreements and comparisons

Related agreements: Click here for the same clause in the 2018 Pledge GMSLA
Related agreements: Click here for the same clause in the 1995 OSLA
Comparison: There is no equivalent provision in the other version of the GMSLA.
Comparison: Template:Osladiff Nominee

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Content and comparisons

Template:M comp disc GMSLA Nominee

Template

Summary

Not quite the same as a custody nominee — this is more a lazy reference to the general case of an agent or custodian who handles assets and payments on your behalf. Usually a “nominee” is a more technical term for the entity a custodian or broker/dealer uses to hold client assets entrusted to it for custody, thereby keeping them utterly segregated from the broker’s own assets.

Template

See also

Template

References

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