17 C.F.R. § 300.501 Claim for cash.
Title 17 - Commodity and Securities Exchanges
(a) Where a SIPC member (“Debtor”) held securities in an account for a customer, the customer has a “claim for cash” with respect to any authorized securities sale: (1) If the Debtor has sent written confirmation to the customer that the securities in question have been sold for or purchased from the customer's account; or (2) Whether or not such a written confirmation has been sent, if the securities in question have become the subject of a completed or executory contract for sale for or purchase from the account. (b) Where the Debtor held cash in an account for a customer, the customer has a “claim for cash”, notwithstanding the fact that the customer has ordered securities purchased for the account, unless: (1) The Debtor has sent written confirmation to the customer that the securities in question have been purchased for or sold to the customer's account; or (2) Whether or not such a written confirmation has been sent, if the securities in question have become the subject of a completed or executory contract for purchase for or sale to the account.
Title 17: Commodity and Securities Exchanges
PART 300—RULES OF THE SECURITIES INVESTOR PROTECTION CORPORATION
Rules Relating to Satisfaction of a “Claim for Cash” or a “Claim for Securities”
§ 300.501 Claim for cash.