Series 7: 14.7.1 Order Tickets

14.7.1  Order Tickets

In order to execute an order for a customer, a representative must first fill out an order ticket. Each ticket must describe the terms and conditions of the transaction, including:

• • The name and description of the security
• • The name of the customer and account number
• • The type of order (market, limit, stop-loss order)
• • Duration of order (Day Order, Good Till Cancelled, Good Through Week)
• • Time and date order was placed
• • Time and date order was executed or cancelled per customer’s request
• • Order size (number of shares) and execution price
• • Whether it was a buy or sell order; if sell, whether it was long or short
• • Location of security if it was a long sale
• • Whether it was an agency or principal transaction
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