Series 53: Manual Trade Confirmation And Comparison

Manual Trade Confirmation and Comparison

When transactions are not eligible for automated comparison, each party must send a confirmation of the transaction to the other party by telephone on the trade date. This oral confirmation must be followed up with a written confirmation by close of business day on the following day (T + 1).

Every confirmation must contain the following information:

• • Confirming party’s name, address, and telephone number
• • Contra party identification
• • Designation of transaction as a purchase or sale
• • Par value of the securities
• • Description of the securities: issuer, interest rate, maturity date, whether the bond is callable, whether it is a revenue bond, and what type
• • CUSIP number, if any
• • Trade date
• • Settlement date
• •