Series 24 Exam Tip!

Here is some good information for the series 24 exam relating to trading and market making. This section of the exam tends to present test takers with a lot of challenges



Which Side of The Trade Reports to ACT / TRF?


In order to ensure that trades are not reported twice to the ACT /TRF system, the following rules have been enacted to determine who reports the trade:


In a transaction between two market makers negotiated over the phone the sell side of the transaction reports.


In a transaction between two market makers, the executing market maker reports.


In a transaction between two non market makers, the executing firm reports.


In a transaction between a member firm and a customer, the member firm reports.



TAKE NOTE!


The executing side of the trade for TRF reporting is the firm or market maker to whom the trade was directed. The firm who executes the trade is the firm who receives the order.

Take some free series 24 exam questions on our site at:

http://www.securitiesce.com/web/pages/series24/index.php