Series 7: 14.7.2 Trade Confirmations

14.7.2  Trade Confirmations

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

• • Name of the security
• • Whether the security was bought or sold
• • Quantity and price of the security
• • The date and time of the transaction (or if the transaction is not yet completed, assurance that the time will be provided on request)
• • The market or exchange on which the trade was executed (NYSE, NASDAQ, OTC)
• • The dollar price and yield of a debt security
• • Disclosures about prepayment for transactions involving asset-backed securities
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