assign

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Assign

In futures and options, to select, usually at random, a client with a short position to make delivery on a contract. That is, a clearing house randomly assigns a brokerage with a short position on a futures contract or option to make delivery of the underlying asset to one of the clearing house's clients with a long position on the same contract. When a brokerage is assigned to make a delivery, it also randomly assigns a client with a short position to make the delivery to the brokerage.

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.

assign

To transfer one's property rights or contract rights to another.In the context of real property,an assignment is commonly used in three circumstances:(1) An investor signs a contract to purchase real property and reserves the right to assign that contract to some business entity to be created in the future, but still owned or controlled by the same investor. (2) An investor wishes to purchase property anonymously because of fears the owner will increase the asking price if he or she knew the identity of the true purchaser.As a result,the investor employs a straw man to sign the purchase contract,and the contract is then assigned to the ultimate purchaser.(3) A speculative purchaser of condominium units or other property to be built in the future will sign a purchase contract for a fixed price,in the expectation that prices will increase dramatically by the time construction is completed. At that time the speculator may then assign their (below-market price) contract to another for a substantial profit.

References in periodicals archive ?
An important consequence of this analysis is that unmarked word order and the assignability of maximal focus cannot be equated with base word order any more or taken to indicate that an element has not left (i.
McChesney's assertion that forced inducer-promisee negotiation yields lower transaction costs seems mistaken when assignability is unclear, such as in the case of personal service contracts.
Pratt & Sons, a premier publisher of legal resources for the financial services industry, is pleased to announce that the article "Automatic Assignability of Claims: The Tension Between Federal and New York State Law," written by Kelley Drye Partner Sarah L.
And we will also be showing two 32-fader System 5B consoles targeted specifically at O&Os, affiliates, local-news stations and other operations that do not have space in the control room for a large control surface," Hansen concludes, "but who need the assignability and centralized command options offered by our unique topology.
Stand-out Features: Assignability, Flexible Surround-Sound Routing and
Because the transferor will often acquire an applicable retained interest initially held by an applicable family member and because of the administrative complexity inherent in allowing assignability, a reduction in taxable gifts for applicable family members is not proposed.
In a nine page written memorandum on July 23, 1998, the court granted BodyBilt's partial summary judgment on the issue of the assignability of the chair patent and held that Jerome Congleton, the inventor of the patent, did not have the right to assign the patent to Neutral Posture Ergonomics .
In consideration, the company agreed to allow Stanson to assign the agreement without restriction after December 31, 1996, while retaining the restriction on assignability without its consent prior to that date.