2.4.1. Filling Out an Order Ticket
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 order is long or short
Each firm must then keep a me