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Morgan stanley penn day on the trading floor

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But we returned to a bearish stance too early. Except as otherwise provided in subsections (c) through (i), a security interest is enforceable against the debtor and third parties with respect to the collateral only if : (1) value has been given; (2) the debtor has morgan stanley penn day on the trading floor in the collateral or the power to transfer rights in the collateral to a secured party ; and (3) one of the following conditions is met: (A) the debtor has authenticated a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned; (B) the collateral is not a certificated security and is in the possession of the secured party under Section 9-313 pursuant to the debtor 's security agreement; (C) the collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under Section 8-301 pursuant to the debtor 's security agreement; or (c) [Other UCC provisions.

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Although the currency-pair differentials arent significant intraday, during a three-to-five day trade they be much more important.

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