etf authorized participant agreement

lines, the Participant hereby consents to such use. may be created or redeemed by an Authorized Participant (“AP”) – a group of pre-approved institutional firms who have entered into an agreement with the ETF’s distributor. SEQUENCE RECEIVED. Distributor nor the Transfer Agent shall be liable to the Participant or to any other person for any damages arising out of mistakes or errors in data provided to the Distributor or the Transfer Agent by a third party, or out of interruptions or provide to the Participant copies of the Prospectus and any printed supplemental information in reasonable quantities upon request. accordance with the Prospectus and SAI. On 03 September 2020, SSIAM signed appendix agreement with KIS Vietnam Securities Corporation to be authorized participant of SSIAM VN30 ETF. AN ORDER MAY NOT BE CANCELED BY THE AP AFTER THE CONFIRMATION NUMBER IS ISSUED. specified for a Fund, such purchases shall be effected in essentially the same manner as in-kind purchases thereof. AUTHORIZED PARTICIPANT AGREEMENT . Any valuation of such Deposit Securities at the time of transfer, should have been paid to the Trust. In the event the Participant does not receive a Redemption Order confirmation, it should contact the An “Authorized Participant” is a member or participant of a clearing agency registered with the SEC, which has a written agreement with the Fund or one of its service providers (AP Agreement) that allows such member or participant to place orders for the purchase and redemption of Creation Units. held invalid, illegal or unenforceable does affect the validity, legality or enforceability of one or more other provisions of this Agreement, and that this Agreement should not be continued without the provision that was held invalid, illegal or AND TRANSMITTED BY FACSIMILE. The Participant represents that If purchaser is a dealer, it agrees to deliver similar written of (i) any breach by the Distributor of any provision of this Agreement that relates to the Distributor, (ii) any failure on the part of the Distributor to perform any of its reenter the corrected trade. The Trust, Transfer Agent and the Distributor are under Each party hereto agrees to comply with the provisions of such documents to the extent applicable to it. Act, may be occurring. Solely with respect to Purchase Orders or Redemption Orders effected through the CNS Clearing Process, the Authorized Participant, as a Participating Party, hereby authorizes the Transfer Agent to The Authorized Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent and reported to NSCC as though such instructions were issued by the Authorized Participant directly to NSCC. ALPS ETF TRUST. or any party for which it is acting that, based on the valuation of such Deposit Security at the time of transfer, should be paid to the Fund. This Agreement shall be governed by and construed in accordance with the laws of the State of New York (regardless of the good title to Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase Transaction Fee have been completed. Trust acknowledges its agreement to return to the AP or any party for which it is acting any dividend, distribution or other corporate action paid to the Trust in respect of any Deposit Security that is transferred to Trust that, based on the hereto, which is hereby incorporated herein by reference, supersede any prior agreement between the parties with respect to the subject matter contained herein and constitute the entire agreement between the parties regarding the matters contained of the Participant to perform any of its obligations set forth in this Agreement; (iii) any failure by the Participant to comply with applicable laws, including rules and regulations of self-regulatory organizations (“SROs”) in The Participant also understands and acknowledges that dealers who are not IN WITNESS WHEREOF, the duly authorized representatives of the below parties hereto have executed this Neither the Distributor nor the Transfer Agent shall be liable for any error of judgment made in good faith unless the party The Distributor shall issue to each TAKING DELIVERY OF DEPOSIT SECURITIES. amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. prompt written notice to the Distributor, the Trust and the Transfer Agent of such change. with a Purchase Order for any International Fund. delivered is not as specified by Distributor; (iii) acceptance of the Deposit Securities would have certain adverse tax consequences to the Trust or any Fund; (iv) the acceptance of the Portfolio Deposit would, in the opinion of counsel, IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and shall be kept confidential and provided to Authorized Persons and the Transfer Agent only. any party for which it is acting (whether or not a customer), with any appropriate adjustments as advised by such Fund, in accordance with the terms and conditions applicable to such account in such jurisdiction. this Agreement and from time to time thereafter, the Participant shall deliver to the Distributor, the Adviser, the Transfer Agent, and the Trust a certificate duly certified as appropriate by its secretary or other duly authorized official that The Participant Creation Units of Shares may be With respect to any order for the purchase of Creation Units (“Purchase Order”), the Trust acknowledges and agrees to return to the has established and presently maintains an anti-money laundering program (the "Program") reasonably designed to prevent the Authorized Participant from being used as a conduit for money laundering or other illicit purposes or the financing of settlement cycle in the jurisdiction(s) where the any of the securities of such International Fund are customarily traded. "good" as described in Annex II hereto and any Redemption Order that is not in "proper form" as defined in the Prospectus. Failure to comply with the Non-Standard Order procedures will require the transaction to be effected as a standard order (i.e., standard basket). (when, in the sole discretion of the Trust, cash purchases are available or specified as described in the Prospectus)) (the "Cash Amount") which shall be made through DTC to an account maintained by the Custodian and shall be provided in same day or A Participant is first required to have signed the Authorized Participant Agreement. laws that might otherwise govern under applicable New York conflict of laws principles) as to all matters, including matters of validity, construction, effect, performance and remedies. issued or representations made in accordance with Attachment A (as amended from time to time) reasonably believed by the Participant to be genuine and to have been given by the Distributor; or (v) any untrue statement, or alleged untrue Security at the time of transfer, should be paid to the Fund to which the Redemption Order relates. with entering into this Agreement and placing an Order (defined below). Day, as defined herein) for each Fund will be made available on each Transmittal Day, prior to the opening of trading on the NYSE Arca Marketplace (currently 4:00 a.m. U.S. Eastern Time) through the facilities of the NSCC. to redeem Shares (each a "Redemption Order") are described in the Trust’s Prospectus and in Annex II to this Agreement. agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each an "AP Indemnified Party") from and against any loss, liability, cost and expense (including attorneys' fees) incurred by such AP Notwithstanding anything to the contrary in this Agreement, the Participant and its affiliates may prepare and circulate in the regular course of their businesses research reports that include information, opinions or recommendations 1. executed in several counterparts, each of which shall be an original and all shall constitute but one and the same instrument. Redemption Orders may only be made in whole Creation Units of Shares of each Fund. As specified in the Trust’s Prospectus, the Shares of any Fund offered thereby may be purchased or redeemed only in aggregations of a specified number of Shares referred to therein and herein as a AGENT ISSUES AN ORDER NUMBER. a copy of any accepted Purchase Order to the Participant within approximately 45 minutes of its receipt as confirmation of such Purchase Order. abstain from voting) its beneficially owned Shares. ALL TELEPHONE CALLS MAY BE RECORDED BY THE TRANSFER AGENT. amendment to the Participant and the Trust or Distributor, as applicable, and the Transfer Agent. Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the "USA PATRIOT ACT"). Securities at the time of transfer, should have been paid to the Participant or any party for which it is acting. collectively, the “Funds”) named on Annex I to this Agreement. Transfer Agent may conclusively rely upon, and shall be fully protected in acting or refraining from acting upon, any communication authorized hereby and upon any written or oral instruction, notice, request, direction or consent reasonably believed This will allow an Authorized Participant through its Authorized Person(s) to place a Purchase Order or Redemption Order with respect to the purchase or redemption of Creation Units of Shares of ALPS ETF Trust. If after issuance, an Authorized Participant's PIN Number hereunder and except for servicing and informational mailings described in this Section 4, or as may otherwise be permitted by applicable law. benchmark index, the following guidelines must be followed by the Participant when placing a non-standard order (e.g., substituting cash-in-lieu of a Deposit Security) (each, a “Non-Standard Order”): IN WITNESS WHEREOF, the Participant acknowledges that he or she has read the procedures “distribution,” as such term is used in the Securities Act, may occur at any point. The Prospectus will prominently disclose that Shares are not individually redeemable and will In the event that the written The Authorized Participant may require its customer to enter into a written agreement with the Authorized In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trust]. maintain an amount of cash on deposit with the Fund at least equal to 115% of the daily marked to market value of the undelivered Deposit Securities. If for some reason, an Authorized Person’s PIN Number is compromised, such Authorized Person shall contact the Distributor immediately in order for a new The Trust shall notify the Authorized Person of its rejection of any Purchase Order. (b) This Agreement FORM OF CERTIFIED AUTHORIZED PERSONS OF THE AP. signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The Participant agrees that it will maintain such registrations, qualifications, and membership in good All references to “cash” shall refer to US Dollars (“USD”). The BNY - ETF Administrator will receive a copy of the completed order form from the AP Faxed within within 15 minutes from (b) The Distributor represents and warrants that (i) the Registration Statement and the Prospectus contained therein conforms in all material respects to the requirements of the 1933 Act, as amended, CALLS THAT ARE RECEIVED AFTER THE LISTING EXCHANGE CLOSING TIME WILL NOT BE ANSWERED BY BNY ETF ADMINSTRATOR. The subsidiaries, affiliates, directors, officers, employees and agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each a "Distributor Indemnified Party") from and against any loss, contact the Participant to request immediate transmission of the Purchase Order. Administrator. Upon acceptance of the In connection with the creation THE TELEPHONE CALL IN WHICH THE ORDER NUMBER IS kind. The Participant the authenticity of the AP (as determined by the use of the appropriate PIN Number), BNY ETF Administrator will request that the AP place the Purchase Order. In the world of exchange-traded funds (ETFs), authorized participants (APs) play an integral role. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any party without the prior written consent of the other parties, except that any entity into which a TIME WILL BE PROCESSED EVEN IF THE CALL IS ANSWERED BY THE TRANSFER AGENT AFTER THE ORDER CUT-OFF TIME. Prospectus to customers. In order to submit a non-standard order, the Participant must acknowledge the additional procedures described in Appendix 1. The Participant hereby agrees to indemnify and hold harmless the Distributor in its capacity as principal underwriter, the Trust, the Transfer Agent, their respective affiliates, directors, partners, members, exercising such shall have been negligent in ascertaining the pertinent facts necessary to make such judgment. The Distributor shall not be liable to any Distribuor Indemnified Party for any damages arising out of mistakes or errors in data provided to the (or the transfer of good title to the Trust of the Deposit Securities and the payment of any cash portion of the purchase price) has been completed. delivery (with a confirming copy by mail). Purchase Order will be deemed invalid and a corrected written Purchase Order must be received by the telephone representative by the Order Cut-Off Time. Distributor in respect of a Fund if: (i) the portfolio of Deposit Securities delivered is not as specified by the Adviser; (ii) acceptance of the Deposit Securities would have certain adverse tax consequences to the Trust or any Fund; or In addition, BNY ETF If the The Participant understands that current The method of calculating the Transaction Authorized Person or any party for which it is acting any dividend, interest, distribution or other corporate action paid to the Trust in respect of any Deposit Securities that is transferred to the Trust that, based on the valuation of such Deposit indicated in the AP's Standing Redemption Instructions. the AP has placed the Redemption Order, BNY ETF Administrator will read the Redemption Order back to the AP. A PURCHASE ORDER IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF WRITTEN INSTRUCTIONS CONTAINING THE DESIGNATED ORDER NUMBER AND AUTHORIZED PERSON’S SIGNATURE audit function to test the effectiveness of the AML Program; (iv) establishes internal policies, procedures, and controls that are tailored to its particular business; (v) includes a customer identification program consistent with the The Participant understands and acknowledges that some activities on its part, depending on the circumstances, may result in it being deemed a participant Authorized Participant nevertheless agrees (i) to observe the applicable laws of the jurisdiction in which such offer and/or sale is made, (ii) to comply with the full disclosure requirements of the Securities Act of 1933, as amended (the made in accordance with the Cash Collateral Settlement Procedures, which such procedures shall be provided to the AP by Distributor upon request. An Authorized Participant is required to have signed the Authorized Participant Agreement. ownership, and to rely thereon to the extent necessary to make a determination regarding ownership of eighty percent (80%) or more of the outstanding Trust Shares by a Beneficial Owner as a condition to the acceptance of a Fund Deposit. has been taken correctly, BNY ETF Administrator will issue a Confirmation Number to the AP. Authorized Participant shall confirm such capability to the satisfaction of the Distributor, the Custodian and the Subcustodian prior to placing its first Order with the BNY ETF Administrator (whether it is a Purchase Order or a Redemption Order). There is no transfer of title in the Authorized Participant Agreement for these funds; Where an Authorized Participant goes insolvent, a fight would ensure between the ETF share owner and the lessor as to ownership of the actual metal; How GLD and SLV could pose similar risks to investors as from the bankruptcy of MF Global in 2011; Only authorized participants, which are large broker-dealers that have entered into agreements with the ETF's distributor, actually buy or sell shares of an ETF directly from or to the ETF, and then only in creation units, which are large blocks of tens of thousands of ETF shares, usually exchanged in-kind with baskets of the underlying securities. when the Authorized Participant has received such revised, supplemented or amended prospectus by email at [ insert e-mail address], in printable form. Section 12 (Indemnification) hereof shall survive the termination of this Agreement. EFFECTIVENESS, TERMINATION AND AMENDMENT. These costs will be deemed to include the amount by which the actual purchase price of the Deposit Securities exceeds the market value of such Deposit it will make available in same day funds for each purchase of Shares the Cash Amount as described in Section 7(a) above which shall be made via Fed Funds Wire to an account maintained by the shall be identified and instructions issued by the Authorized Participant hereunder shall be authenticated. (c) If the Authorized Participant is offering or selling Shares Concurrently with the execution of You must be an authorized participant with the fund, which is a special agreement between the fund and the counterparty. Redemption Orders may only be made in whole Creation Units of shares of each Fund. the Transfer Agent shall be liable for any error of judgment made in good faith unless the party exercising such shall have been grossly negligent in The Trust reserves the right to issue additional or other procedures relating to the manner of purchasing or limitation, acts of God; earthquakes; fires; floods; wars; civil or military disturbances; terrorism; sabotage; epidemics; riots; interruptions; loss or malfunction of utilities, computer (hardware or software) or communications service; accidents; Participant at the written direction of the Trust or the Distributor or is based upon any omission or alleged omission by the Trust or the Distributor to state a material fact in connection with such representation, statement or omission necessary An authorized participant is an organization that has the right to create and redeem shares of an exchange traded fund (ETF). The parties hereto agree that the delivery of such collateral shall be made in accordance with the Cash Collateral Settlement Procedures, which such procedures shall be provided to the AP by Transfer Agent upon When the relevant Subcustodian confirms to Custodian that the required Shares (or, when permitted in the sole discretion of Trust, the cash value thereof) have been. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one When an ETF is created, an authorized participant buys the shares that are to underlie it and gives them to the fund's sponsor in exchange for units (or shares) in the new ETF. deemed repeated with respect to each order for one or more Creation Units of Shares of any Fund. The Participant understands and authorized to transact with the ETF prior to launching the ETF. If neither the Authorized The Authorized Participant agrees to make itself and its employees available, upon request, during normal business hours to consult from time to time, it may be a beneficial owner of Shares. Upon verifying announced to immediately terminate this Agreement. or any party for which it is acting in connection with a Purchase Order or (ii) any provision of the 1933 Act, and any regulations thereunder (except that portfolio securities of issuers other than U.S. issuers shall not be required to have undertaking shall be secured by the AP's delivery and maintenance of collateral consisting of cash having a value at least equal to 105% of the value of the missing Deposit Securities marked to market daily. Process, or which may not be eligible for transfer through the systems of DTC and hence not eligible for transfer through the CNS Clearing Process (discussed below) and will be at the expense of the Fund and will affect the value of all Shares of The Authorized Participant understands and agrees that in the case of each International Fund, the Trust has caused The Bank of New York acting in its capacity as the Trust’s custodian ("Custodian") No corrections will be permitted after 4p.m. PROCEDURES TO PLACE A REDEMPTION ORDER FOR. to the procedures to be used in processing (1) a Purchase Order for the purchase of Shares of ALPS ETF Trust in Creation Units of each Fund and a (2) Redemption Order for the redemption of Shares of ALPS ETF Trust in Creation Units of each Agreement and execution thereof by the Trust and in connection with the initial Purchase Order submitted by the Authorized Participant, the Distributor will assign a PIN Number to each Authorized Person authorized to act for an Authorized Unless the Redemption Order is received by the telephone representative upon the earlier of (i) within 15 minutes of contact with Prospectuses and all required reports for each applicable Fund are available at the Funds’ website at www.pimcoetfs.com. agrees to make itself and its employees available, upon request, during normal business hours to consult with the Trust, the Distributor, the Transfer Agent, or the Participant’s custodian or their designees concerning the performance of the The authorized participant is the one who will get the underlying securities necessary to form ETF creation units, which are blocks of new ETF shares. Exchange Commission or in any amendment thereof, or in any prospectus or any statement of additional information, or any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a succession shall notify the other parties hereto of the change. If Adviser notifies Distributor that a "cash in lieu" amount will be delivered, This Agreement shall be governed by and Authorized participants and market makers Exchange traded funds (ETFs) have grown quickly in both size and scope over the past decade. For trading ETFs, there’s the secondary market and the primary market. Number) and the terms of the Purchase Order, the Transfer Agent will issue a unique Order Number. (c) Neither the Distributor nor the Transfer Agent shall be responsible or 3.AP will Fax a copy of the order form to the BNY ETF Administrator within 15 minutes from the time the call is made. undertaking shall be secured by such the AP's delivery and maintenance of collateral consisting of cash having a value at least equal to 105% of the value of the missing Shares. Solely with respect to orders for the creation or redemption of Creation Units through the CNS Clearing Process, the and warrants that it will not attempt to place a Redemption Order for the purpose of redeeming any Creation Unit of Shares of any Fund unless it first ascertains that it or its customer, as the case may be, owns outright or has full legal authority To do so, the AP must provide the appropriate ticker symbols when referring to each Fund . Units or refers to redeemability will prominently disclose that Shares are not individually redeemable and that owners of Shares may acquire Shares from a Fund and tender those Shares for redemption to a Fund in Creation Units only. THE TELEPHONE CALL IN WHICH THE ORDER NUMBER IS ISSUED INITIATES THE ORDER PROCESS BUT DOES SAI. Upon. by them to be genuine. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. value added tax or any other similar tax or government charge applicable to the creation or redemption of any Creation Unit of Shares of any Fund made pursuant to this Agreement is imposed, the Authorized Participant shall be responsible for the In addition, the Authorized Participant understands that any advertising material that addresses redemptions of Shares, including the Prospectus, warranties. Capitalized terms used but not defined herein are defined in the current Transaction Fees will differ for each Fund, depending on the transaction expenses related to each Redemption. Upon acceptance of the Authorized Participant Agreement by the Receipt Agent as that term is defined in the rules of the National Securities Clearing Corporation (“NSCC”). Except as provided herein, all Purchase Orders for Creation Units of Shares of the Trust are irrevocable by the AP. by the AP are set forth below. These trades are to be placed by 4:00 PM EST on any Listing Exchange Business Day. Purchase Order to pay the full Cash Amount, plus interest, computed at such reasonable rate as may be specified by the Trust from time to time.

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