QUESTION: 153 Topic: 2, Volume B

Where sale and repurchase agreements or stock borrowing or lending transactions are entered into:

screen services, brokers and other third party providers can all be useful sources of data
For periods less than one month, the maturity date will be the first date that is a business day that is within one, seven, fourteen days from the value date, but when near the month end must never be a date in the next calendar month
Inter-dealer brokers or the automated trading system need not be notified when participants attempt to utilize odd settlement dates
It is not recommended that legal opinion should be obtained on the enforceability of the contract

Answer(s): A

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QUESTION: 154 Topic: 2, Volume B

Whose compliance rules, regulations and best practices should be followed in FX electronic trading?

solely those of the electronic trading platforms vendors
exclusively ACI’s Model Code Best Practices
ACI’s Model Code Best Practices and ICMA’s Market Practice & Regulatory Policy
the electronic trading platforms vendors’ and the ACIs Model Code Best Practices guidelines

Answer(s): B

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QUESTION: 155 Topic: 2, Volume B

You quote a price to a broker. It is hit by another bank, but you are not informed until some time afterward that the deal has been done. Who is to blame?

You are, as it is your responsibility to check periodically that the price has not been dealt upon.
The broker is, as he must immediately tell you that your price has been dealt upon.
The other bank is, since it did not immediately seek confirmation.
All the parties, particularly you and the other bank.

Answer(s): B

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