Filling Out an Order Ticket
Before a trader can execute an order for a client, s/he must fill out an order ticket. This ticket must include:
- • Security Name
- • Execution Price
- • Order Size
- • Duration of order: day order, good till cancelled (GTC), good thru week (GTW)
- • Type of order (market order, limit order)
- • Buy/Sell: whether the order is a buy, sell long, or sell short
Each firm must then keep a memorandum of each order ticket, containing the following additional inform