Order Tickets and Required Information
Chapters in this video
- 0:00 The who and the what: required identification fields
- 1:18 How this trade executes: price instructions and order qualifications
- 1:38 The discretionary indicator and registered representative accountability
- 2:06 The short sale indicator and Regulation SHO compliance
- 2:42 Exactly two timestamps: receipt and execution
- 3:37 Trading ahead and the supervisor audit trail
- 4:12 Solicited versus unsolicited and the Reg BI suitability obligation
- 5:23 Rapid-fire exam recap
What this video covers
- Every required element on a customer order ticket, including account number, security symbol, direction, quantity, price instructions, and order qualifications
- The two time-stamping requirements: time of receipt and time of execution, and why both are legally required
- How time-stamping creates an audit trail that supervisors use to detect trading ahead of a customer order
- The short sale indicator required by Regulation SHO and why students constantly overlook it on exam day
- The difference between solicited and unsolicited trades, and why unsolicited does not mean anything goes
- How the solicited designation triggers the full suitability obligation under Regulation Best Interest (Reg BI)
- Why the discretionary indicator must be marked when a registered representative exercises discretion
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