> For the complete documentation index, see [llms.txt](https://initiativ.gitbook.io/initiativ/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://initiativ.gitbook.io/initiativ/mm_internal/retained-from-version-0.1-not-yet-reworked/v01-12.8.2-fiducie.md).

# (v01) 12.8.2 Fiducie

The fiduciary intermediary is responsible for:

* Holding the underlying asset and cash in escrow and maintaining Trading Limit accordingly
* Transferring the underlying asset and cash between Members’ sub-accounts in the Fiducie according to transactions through exchange account
* Transferring underlying asset and cash between Fiducie and Members’ accounts outside Fiducie according to Member request

For definitions of Fiducie, Initiativ, and related terms, see **Appendix A: Glossary of Terms**.

{% hint style="warning" %}
**\[TO BE COMPLETED - see Appendix E]:** Detailed legal structure, governing law, insolvency protection, beneficiary rights
{% endhint %}