3 Servicing Accts Flashcards
Orders
process
- order room/ wire room - count $
- purchasing & sales - billing
- margin - calculate amount due
- cashering
confirm delivered no later than
settlement date
reorganization dept does what
replaces shares
BD Required Records
- Blotters
- Leger Accts
- Long & Short Securities
- Memo
- Cust Accts
list of buy & sells
receitps & deliveries
cash transactions
debits & credits
BD Required Records
- Blotters
- Leger Accts
- Long & Short Securities
- Memo
- Cust Accts
cash & margin accts
BD Required Records
- Blotters
- Leger Accts
- Long & Short Securities
- Memo
- Cust Accts
buy & sell
BD Required Records
- Blotters
- Leger Accts
- Long & Short Securities
- Memo
- Cust Accts
conditions & instructions
BD Required Records
- Blotters
- Leger Accts
- Long & Short Securities
- Memo
- Cust Accts
info to cust w/in 30 days of open
what happens to account if
pmt for stock not rcvd in T+5?
freeze for 90 days if over 1,000
free credit balance
cash that belongs to customer
DK Notice
BD thinks trade error- don’t know
firm can cancel after notice and FINRA approval
Settlement
Equities
Treasuries
T + 3
T + 1
Cash Settlement
trade before 2 pm
trade after 2 pm
same day
by 2:30
w/in 30 min
sellers option
seller specifies date of delivery
if decide to sooner give buyer 1 day written notice
Receipt vs Payment (RVP)
Delivery vs Payment (DVP)
Cust sells to BD
Cust buys from BD
stock power
bond power
sent to cust if they forget to sign stock / bond
also know as
power of substitution
must be signature guarentee
good delivery
lots of stackable
100
round lots
odd lots
100
<100
read page 376
who gets DIV
on or after ex date
before ex date
seller
buyer
