In addition to account statements, customers receive trade confirmations each time a transaction occurs. A trade confirmation provides the key details of that specific trade, including:
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 before the completion of the transaction. In other words, the broker-dealer must send the confirmation no later than the time the trade settles. Like statements, trade confirmations may be delivered by mail or electronically.
Key points
Trade confirmations
Provide trade details after the transaction
Are sent by completion of the transaction
Can be sent by mail or electronically
In addition to account statements, customers receive trade confirmations each time a transaction occurs. A trade confirmation provides the key details of that specific trade, including:.