Series 24: Filling Out An Order Ticket

Filling Out an Order Ticket

In order to execute an order for a client, a trader must first fill out an order ticket. Each ticket must describe the terms and conditions of the transaction, which include:

• • The name and description of the security
• • The name of the customer and her account number
• • The type of order (e.g., market, limit, stop-loss order)
• • Duration of order (e.g., day order, Good-’Til-Cancelled, good through week)
• • Order size and execution price
• • Whether it is a buy or sell order
• • Whether the order is long or short

Each f