These transactions are also termed as financial transaction as they influence the financial position of business enterprise. Circular transactions such as sale with commitment to repurchase ♦ Meaning of Arm’s length:-It means a transaction between two related parties that is conducted as if they were unrelated, so that there is no conflict of interest (explanation to Section 188(1)). Omnibus account agreement. In this type of account, the account holder is a “ futures merchant ” also called a stock broker or money manager , who is holding the investments of various clients in one account which he or she trades on behalf of his or her client base. Q. Broker-dealers engage in transactions through omnibus accounts and sub-accounts established by financial intermediaries. Learn more. An omnibus account is an account carried by one futures commission merchant with another futures commission merchant in which the transactions of two or more persons are combined and carried in the name of the originating broker, rather than designated separately. transaction definition: 1. an occasion when someone buys or sells something, or when money is exchanged or the activity of…. Essentially, this means that the transactions of two or more parties are combined in the name of one broker, instead of being designated separately. Agreement with DTC and master certificate (for CDs traded in secondary market). Omnibus definition is - a usually automotive public vehicle designed to carry a large number of passengers : bus. Deposit-Taking and Definition of a Bank "Branch," CRA Assessment Area, Applicability of BHC Act Define Omnibus Order. Business transaction refer to the event of business which is measurable in money terms and recorded in book of accounts. They consist of a mixture of fixed and variable data. Sale transactions with unusual large discounts or returns. 3. Agreement with custodial or transfer agent. Administrative agreement. The secretary's certificate typically contains the following: ...Additional content available upon purchase. How to use omnibus in a sentence. An omnibus account, also called a ‘cash management’ or ‘asset management’ account, is a kind of stock holding trading and clearing account between two or more futures merchants (brokers). means the Final Order of the Bankruptcy Court authorizing the Company and its Subsidiaries to enter into and execute definitive Transaction Documents and approving the Transactions under Sections 105, 363, 364 and 365 of the Bankruptcy Code and applicable Bankruptcy Rules, in form and substance reasonably acceptable to the Investor and the Company. Meaning of Business Transaction. Did You Know? An omnibus account is a specific kind of stock holding account that involves multiple investors. 2. GlossarySecretary's CertificateA certificate signed by the secretary of a company (or for an LLC without officers, a manager or managing member) and delivered at the closing of a transaction. Transaction documents refers to legally relevant documents that are either printed, inserted and mailed, or electronically presented. These documents are usually created by organizations through their financial computing system and then delivered to other parties (such as clients) through the post office or through an electronic billing system.
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