Trade confirmations

In addition to statements, customers receive trade confirmations when a transaction occurs. Trade confirmations detail all of the following:

• Customer’s name
• Account number
• Security bought or sold
• Number of shares or units traded
• Date and time of the transaction
• Fees and/or commissions
• Capacity of firm (agency or principal)
• Accrued interest (if applicable for bond trades)

Trade confirmations must be sent at or prior to the “completion of the transaction.” Essentially, the broker-dealer must send the trade confirmation by the time the trade settles. Like statements, trade confirmations may be sent by mail or electronically.