Close-Out Requirements for Various Products

What this video covers

• When a standard buy-in may begin, why the third business day is a floor rather than a deadline, and which products fall outside the rule
• How to calculate the buy-in notice deadline at 12 noon ET two business days before execution, plus the retransmission deadline for parties farther down the chain
• What a valid buy-in notice must include, and why silence after 6:00 p.m. ET becomes acceptance
• The difference between a true stay based on physical possession and a seven-calendar-day extension for securities in transit
• Why cash and guaranteed-delivery contracts can be bought in without notice during normal trading hours on the next day after delivery was due
• When to use a liability notice, including the two-hour deadline and the separate 11:00 a.m. rule for daily exercise provisions
• How reclamation periods work for minor irregularities, foreign securities, stolen or refused securities, and called securities, plus the sell-out risk of returning a certificate without the required form