open contractual commitment
The term open contractual commitment shall mean a failed to receive or a failed to deliver which had a settlement date prior to the filing date and the respective obligations of the parties remained outstanding on the filing date or had a settlement date which occurs on or within three business days subsequent to the filing date: Provided, however, That the term open contractual commitment shall not include any contractual commitment for which the security which is the subject of the trade had not been issued by the issuer as of the trade date.
shall mean a failed to receive or a failed to deliver which had a settlement date prior to the filing date and the respective obligations of the parties remained outstanding on the filing date or had a settlement date which occurs on or within three business days subsequent to the filing date:Provided, however,That the term open contractual commitment shall not include any contractual commitment for which the security which is the subject of the trade had not been issued by the issuer as of the trade date.