Series 24: 5.5.2.1. Filling Out An Order Ticket

Taken from our Series 24 Online Guide

5.5.2.1. Filling Out an Order Ticket

In order to execute an order for a client, a trader must first fill out an order ticket, also called an order memorandum. 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

The firm’s record

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