3 Servicing Accts Flashcards by Brandy S | Brainscape

Q

Orders

process

A

order room/ wire room - count $
purchasing & sales - billing
margin - calculate amount due
cashering

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Q

confirm delivered no later than

A

settlement date

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Q

reorganization dept does what

A

replaces shares

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Q

BD Required Records

Blotters
Leger Accts
Long & Short Securities
Memo
Cust Accts

A

list of buy & sells

receitps & deliveries

cash transactions

debits & credits

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Q

BD Required Records

Blotters
Leger Accts
Long & Short Securities
Memo
Cust Accts

A

cash & margin accts

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Q

BD Required Records

Blotters
Leger Accts
Long & Short Securities
Memo
Cust Accts

A

buy & sell

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Q

BD Required Records

Blotters
Leger Accts
Long & Short Securities
Memo
Cust Accts

A

conditions & instructions

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Q

BD Required Records

Blotters
Leger Accts
Long & Short Securities
Memo
Cust Accts

A

info to cust w/in 30 days of open

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Q

what happens to account if

pmt for stock not rcvd in T+5?

A

freeze for 90 days if over 1,000

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Q

free credit balance

A

cash that belongs to customer

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Q

DK Notice

A

BD thinks trade error- don’t know

firm can cancel after notice and FINRA approval

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Q

Settlement

Equities

Treasuries

A

T + 3

T + 1

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Q

Cash Settlement

trade before 2 pm

trade after 2 pm

A

same day

by 2:30

w/in 30 min

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Q

sellers option

A

seller specifies date of delivery

if decide to sooner give buyer 1 day written notice

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Q

Receipt vs Payment (RVP)

Delivery vs Payment (DVP)

A

Cust sells to BD

Cust buys from BD

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Q

stock power

bond power

A

sent to cust if they forget to sign stock / bond

also know as

power of substitution

must be signature guarentee

Q

good delivery

lots of stackable

A

100

Q

round lots

odd lots

A

100

<100

read page 376

Q

who gets DIV

on or after ex date

before ex date

A

seller

buyer