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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