Order Tickets and Order Memoranda
In order to execute an order for a client, a trader must first fill out an order ticket. Each ticket must describe the terms and conditions of the transaction, which include:
• the name and description of the security
• the name of the customer and her account number
• the type of order (e.g., market, limit, stop-loss order)
• duration of order (e.g., day order, Good-’Til-Cancelled, good through week)
• order size and execution price
• whether it is a buy or sell order
• whether the or