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Trades via Telephone Procedures

Trades via Telephone Procedures. To ensure efficiency when executing trades via telephone, there is a certain order of communication that must be followed to ensure trades can be placed, executed, and reported in the timeliest manner while averting errors due to miscommunications.

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Trades via Telephone Procedures

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  1. Trades via Telephone Procedures To ensure efficiency when executing trades via telephone, there is a certain order of communication that must be followed to ensure trades can be placed, executed, and reported in the timeliest manner while averting errors due to miscommunications. A) State the product description, and buy/sell side of trade. Ex; “I’ve got an equity Buy” or “I’ve got a mutual fund sell” B) State the Quantity, Symbol, Price, & Qualifier. Ex; “Sell 500 QCOM @ Market”. Or “Buy 100 IBM @ 110 GTC. C) State the Acct #, Acct Type (Cash/Margin), Rep ID Clients name, & Commission amount. Ex; Acct # is 8934-5478, type one, rep code A5, clients last name = Error, commission is $50.00 D) It is Prospera's policy that before any trades can be executed, all information must be provided. In other words, have the information ready before you call. E) After the Rep gives all the information,REPEAT back the trade instructions back to the rep and get a verbal confirmation of the instructions

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