[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR363.209]

[Page 502-503]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 363_REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT--Table 
of Contents
 
                Subpart F_Marketable Treasury Securities
 
Sec.  363.209  How can I direct that my marketable Treasury security be 
sold on the open market (Sell Direct[supreg])?

    (a) Sell Direct. We offer a service, referred to as Sell Direct, in 
which we will sell your marketable Treasury security for you on the open 
market at your request. We will transfer your security to an account in 
the commercial book-entry system maintained by our agent, and will sell 
the security on your behalf. By authorizing the transfer and sale of the 
security, you agree to accept the price received by our agent. If our 
agent is unable to obtain at least one price quote for the security, the 
security will be returned to your TreasuryDirect[supreg] account.
    (b) Fee. We charge a fee for each security sold on your behalf. By 
authorizing the sale of the security, you authorize our agent to deduct 
the fee from the proceeds of the sale. If our agent is unable to 
complete the sale, no fee will be charged. The amount of the fee is 
published in the Federal Register.
    (c) Definitions. The following definitions will help you understand 
this section and the confirmation that you will receive after the sale 
is completed.
    (1) The trade date is the date that your security is sold.
    (2) A security, for the purpose of this section, is any amount 
represented by a separate CUSIP number (see definition of CUSIP in 31 
CFR part 356).
    (3) The settlement date is the date that the proceeds of the sale 
are released to the financial institution that you designated to receive 
the proceeds.

[[Page 503]]

    (4) The yield to maturity, or yield, is the annualized rate of 
return to maturity on a fixed principal security expressed as a 
percentage. For an inflation-indexed security, yield means real yield, 
as defined in 31 CFR part 356.
    (d) On the settlement date, our agent will release the settlement 
proceeds, less the fee, to the account at the financial institution that 
you designated.
    (e) When the transaction is complete, our agent will send you a 
confirmation. The confirmation will include the price, trade date, 
settlement date, settlement amount or net amount, transaction fee, and 
yield to maturity.
    (f) We are not liable for changes in market conditions affecting the 
price received for the security, or for any loss that you may incur as a 
result of the sale or the inability of our agent to complete the sale.
    (g) We reserve the right to terminate the Sell Direct[supreg] 
service at any time.