Series 53: 4.2.3.1. Time Of Formal Award And Time Of First Execution

Taken from our Series 53 Online Guide

4.2.3.1. Time of Formal Award and Time of First Execution

The Time of Formal Award is the time at which pricing is finalized for a new issue.

For competitive bid underwritings, this is when the issuer formally selects the underwriter.

For negotiated issues, it is when the b

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