Ex Clearing Trades Flashcards Preview

Chapter 4 - Supervision of Trading and Market Making > Ex Clearing Trades > Flashcards

Flashcards in Ex Clearing Trades Deck (3)
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1
Q

Interdealer paper confirmations must be sent no later than

A

t+1

2
Q

When one party to a trade (the confirming member) sends a confirmation but does not receive one in return, the confirming member must send a don’t know (DK) notice to the nonconfirming member after

A

Four business days from trade date…this may be 3 days

3
Q

After receipt of the DK notice, the nonconfirming member has how long to either confirm or DK the trade.

A

four business days