PART B.1 - GENERAL CUSTODY REQUIREMENTS

4341. Definitions

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    1. The following terms have the meaning set out below when used in Part B of Rule 4300:

      “external acceptable securities location”

      An acceptable securities location for securities that are not under a Dealer Member’s physical possession but which are under a Dealer Member’s control.

      “internal acceptable securities location”

      An acceptable securities location for securities that are in a Dealer Member’s physical possession or physical control. Internal acceptable securities locations include acceptable transfer locations.

      “set-off risk”

      The risk exposure resulting when a Dealer Member has other transactions, balances or positions with a custodian, and the resulting balances could be set off against the value of the securities held by the custodian.

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