Series 99: 2.2.3.1 Procedures For Closing Of Contracts

Taken from our Series 99 Top-off Online Guide

2.2.3.1  Procedures for Closing of Contracts


A seller that has received a buy-in notice or retransmitted notice and has not rejected or stayed the notice must deliver the securities to the purchaser at or before 3:00 p.m. ET on the execution date of the buy-in notice, unless otherwise agreed by the issuing party.

If the seller fails to deliver in accordance with the buy-in notice or to obtain a stay, the buyer may close the contract by pur

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