Order Tickets and Confirmations

What this video covers

• Every required field on an order ticket at the time of entry, and why the solicited or unsolicited designation is mandatory, not optional
• How solicited trades trigger higher suitability obligations because the registered representative (rep) recommended the trade
• The SEC trade-confirmation rule delivery deadline: at or before the completion of the transaction, meaning settlement date, not trade date
• Every required disclosure on a customer confirmation, including trade date, settlement date, security identity, quantity, price, net amount, and accrued interest for debt securities
• How firm capacity determines compensation: agent (broker) charges an itemized commission, while principal (dealer) charges a markup or markdown built into the price
• Why accrued interest must appear on debt confirmations, and that the buyer pays this amount to the seller in addition to the purchase price
• The most common exam traps, including confusing trade date with settlement date and forgetting that principal transactions never show an itemized commission