Series 99: 2.1.1.6 Trade Confirmations

2.1.1.6  Trade Confirmations

At or before a trade’s completion, which means the time at which the trade is settled, brokerage firms on each side of the transaction are required by SEC Rule 10b-10 to provide a written confirmation to their customers. The trade confirmation includes:

• • Name of the security
• • Whether the security was bought or sold
• • Quantity and price of the security
• • Date and time of the transaction (or if the transaction is not yet completed, assurance that the time will be provided on request)
• • Market or exchange on which the trade was executed (NYSE, NASDAQ, OTC)
• • Dollar price and yield of a debt security
• • Disclosures about prepayment for transactions involving asset-backed securities
• • Whether it was an agency or principal transaction
• • Any commission, accrued interest, or fees that were paid
• • Customer’s account type (cash, margin, short)
• • Settlement date

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