Liquidating positions

Posted by / 28-Nov-2019 03:17

Liquidating positions

The total dollar value of sales credits and/or commissions generated by equity trades in customer accounts executed on a National Securities Exchange, that the correspondent or self-clearing firm had on the "processed date."Should fee-based payments be included under the Sales Credits and Commissions reporting requirement?

Our definition of a fee-based account is one where there is an annual fee regardless of activity.

Multiple executions of a single order at different prices for the same customer should be reported as a single transaction - average price should be used to calculate price.

The aggregate net liquidating equity in the correspondent’s proprietary accounts.

A "customer account" is defined in SEC Rule 15c3-3(a)(1).

These are accounts held by retail and institutional customers.

Z = Other What does the definition of a National Securities Exchange include?How should multiple executions of a single order at the same or different prices be counted?Multiple executions of a single order at the same price for the same customer should be reported as a single transaction.National Securities Exchange includes NYSE, ASE, PHLX, CBOE, Chicago Stock Exchange, Cincinnati Stock Exchange, Boston Stock Exchange, and Pacific Stock Exchange.If a correspondent routes an order to another broker-dealer, and that broker-dealer routes the order to an exchange for execution, is that execution considered as "executed on a National Securities Exchange" or as a "Non-Exchange Listed Equity Transaction?

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The value is simply underlying quantity times price. The total dollar value of sales credits and/or commissions generated by transactions in customer accounts for debt issues, regardless of where the executions took place, that the correspondent or self-clearing firm had on the "processed date."If a customer has a cash account and a margin account with securities positions.

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