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Confirmation

• All executed orders require a written record or report which indicates an executed order or transaction. Depending on regulatory organization, confirms typically must be sent by the next business day of a transaction.

• The written statement that follows any trade in the securities markets. Confirmation is issued immediately after a trade is executed. It spells out settlement date, terms, commission, etc.

• A memorandum to the other side of a trade describing all relevant data.

• The written acknowledgement provided by a Broker that a trade has been completed. It includes details such as the date, price, commission, fees, settlement terms, and so on.

 
 Embedded terms in definition
 Broker
Commission
Order
Out
Securities
Settlement date
Settlement
Trade
 
 Referenced Terms
 Back office: Is the area or function which relates to the processing, record keeping, and other operational aspects of transactions for financial firms. This compares to Front Office and Middle Office.Brokerage house clerical operations that support, but do not include, the trading of stocks and other securities. Includes all written Confirmation and settlement of trades, record keeping and regulatory compliance.

 Confirm: Is a ratification of an order. Usually it is in written form, however verbal confirms must be subsequently validated by a written record of the transaction. See Confirmation.

 Execution: The process of completing an order to buy or sell securities. Once a trade is executed, it is reported by a Confirmation Report; settlement (payment and transfer of ownership) occurs in the U.S. between 1 (mutual funds) and 5 (stocks) days after an order is executed. Settlement times for exchange listed stocks are in the process of being reduced to three days in the U. S.The completion of a buy or sell order.

 Firm: Refers to an order to buy or sell that can be executed without Confirmation for some fixed period. Also, a synonym for company.Refers to an order to buy or sell that can be executed without Confirmation for some fixed period.

 Firm: Refers to an order to buy or sell that can be executed without Confirmation for some fixed period. Also, a synonym for company.Refers to an order to buy or sell that can be executed without Confirmation for some fixed period.

<< Confirm Conflict between bondholders and stockholders >>

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