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
