Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
7 Cards in this Set
- Front
- Back
|
order flow
|
- Other People Might Care
- Order department (wire) - P&S (purchas and sales - confirms - Margin - compute requirement - Cashier - Receipt and delivery of money and certificates |
|
|
customer payment for purchases
|
- requested by settlement date
- required within 5 business days (regulation t) - if payment is late BD must request extension, sell out and freeze for 90 days |
|
|
Customer delivery on sales
|
- requested by settlement date
- required within 10 business days after settlement date |
|
|
Rules of Good delivery
|
- signed exactly as registered
- signed by all owners - signature guaranteed - stock (bond) power = power of substitution - Units are in odd lots and round lots breakable into 100s - not a good delivery if owner is deceased or a minor or the certificate is mutilated |
|
|
tracking executed trade
|
- Registered rep must:
- match execution report with order ticket - wrote execution price on order ticket - report errors immediately - need managers permission to alter order ticket |
|
|
customer account statements
|
- at min. firms must send customers a quarterly statement but most actually send monthly staments
|
|
|
settlement rules
|
- equities settle in t + 3
- corporate and munis - t + 3 - US gov. agency t+3 - equity options - t + 1 - index options t + 1 - t-bills, notes and bonds - t+1 - seller option - no sooner than t+4 - cash settlement - same day - regulation t - t+5 |
