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assign
(redirected from assignability)

   Also found in: Dictionary/thesaurus, Legal 0.02 sec.
Assign
The act of clearing houses and brokerages selecting short option and future contract holders to deliver underlying securities or commodities of maturing or exercised/tendered contracts.

Notes:
Not all contracts will typically be exercised or tendered, and those that are need to be settled with delivery of the underlying security/commodity. Most often clearing houses will randomly allocate assigned contracts to brokerages who in turn randomly select which of their clients will assigned.


assign
To decide which writer of an option or futures contract (the party that is short the security) will be required to perform the terms of the contract. Clearing corporations and brokerage companies usually assign this responsibility in a random manner when the holders of the contracts ask for delivery of the asset specified in the contract.

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13) See IRS Letter Ruling 8435154 (6/1/84) (an insurance company requested a ruling on the assignability, of periodic payments outside the scope of Sec.
There can be no assurances that this contract will be fulfilled in its entirety, and there is no prepayment penalty or limitation on assignability.
The stipulation and order provides, among other things, that Cendant and its affiliates agree not to object to the debtors' assignability of the Cendant Agreements.
 
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