Unit 4 - Test Prep Flashcards
ABC BD has an order to buy and sell the same security at the same price; what must occur before the orders can be crossed?
Rule 76 requires the firm to publicly offer the security at the price higher than its current bid
A MM of a global select stock wishes to apply for an excused withdrawal form Nasdaq; all of the following are acceptable reasons
- a religious holiday
- the firm’s software must be updated.
- the chief trader has material, nonpublic information on the stock
A quote is entered at 22.50-23.00 when the inside quote is 23.15-23.25, resulting in
a crossed market
Which of the following is true regarding trace?
Eligible trades in fixed income securities must be reported withing 15 minutes of execution
A MM of ABDC is holding a customer limit order to buy 300 shares at 21.35. As principal, the firm buys 200 shares at 21.34. Which is true?
The firm must fill 200 shares of the customer order at 21.34
A T1 modifier displayed on a Nasdaq terminal indicates
that news is pending
If a ADF MM voluntarily withdraws as a MM, how long is the wait to reregister?
20 business days
When calculating accrued interest for a corporate bond, all of the below are considered
- every month has 30 days
- regular way settlement is T+2
- for bond that pay interest on the 15th, the first month has 16 days of accrued interest
When is the first day a stock trades without a due bill attached?
Ex-date
