Series 53: Records For Transactions As Principal

Records for Transactions as Principal

A trading ticket or similar record must be made and kept current for each municipal transaction for the broker-dealer’s own account. Records must show the price and date of execution and, if feasible, the time.

If the principal transaction is with a customer, a record of the customer’s order must also be recorded containing this information:

• Whether it is a purchase or a sale

• The date of receipt and time (if possible)

• The terms and conditions of t