brokerage support services Flashcards

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1
Q

what is regular way settlement for corporate and municipal securities?

A

2 business days after trade ( T+3)

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2
Q

what is regular way settlement for government securities?

A

1 business day after trade (T+1)

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3
Q

cash settlements for corporate, muni, and govt securities

A

settle same day as trade

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4
Q

when is payment required on security purchases?

A

by the settlement date

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5
Q

when is payment required on REG T purchases?

A

with 5 business days

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6
Q

what are some actions broker/dealers can take if payments are late?

A
  • request extension (FINRA or exchange)

- sell out and freeze for 90 days

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7
Q

what is the order flow after execution of buy/sell of a security?

A

-order department
-purchase and sells-mails trade confirmations to customers
-margin-compute requirements
-cashier-receipt and delivery of money and certificates
OLD PEOPLES MONEY COUNTS

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