brokerage support services

Question 1

what is regular way settlement for corporate and municipal securities?

Answer 1

2 business days after trade ( T+3)

Question 2

what is regular way settlement for government securities?

Answer 2

1 business day after trade (T+1)

Question 3

cash settlements for corporate, muni, and govt securities

Answer 3

settle same day as trade

Question 4

when is payment required on security purchases?

Answer 4

by the settlement date

Question 5

when is payment required on REG T purchases?

Answer 5

with 5 business days

Question 6

what are some actions broker/dealers can take if payments are late?

Answer 6

• request extension (FINRA or exchange)

- sell out and freeze for 90 days

Question 7

what is the order flow after execution of buy/sell of a security?

Answer 7

-order department
-purchase and sells-mails trade confirmations to customers
-margin-compute requirements
-cashier-receipt and delivery of money and certificates
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