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QUESTION: 226 Topic: 3, Volume C

In trade confirmation, which one of the following statements about “matching” is correct?

matching should be performed by no later than the day after trading day
matching processes are manual and may not be automated
matching should be performed as soon as possible upon receipt of the confirmation
confirmation matching should be a post-settlement workflow activity

Answer(s): C

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QUESTION: 227 Topic: 3, Volume C

If several banks hit a broker simultaneously for an amount greater than the amount for which the price was shown:

no transaction is done
the broker has to honor each and every amount hit
the broker has to split the amount among the banks on a pro rata basis
the broker may freely choose the bank(s) he will deal with

Answer(s): C

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QUESTION: 228 Topic: 3, Volume C

According the Model Code, a principal, whose name has been rejected, feeling that the broker may have actually quoted a price or rate that it could not in fact substantiate, may:

deduct points from the broker or adjust the brokerage bill accordingly
in some centres, ask either the central bank or some other neutral body to investigate and confidentially verify that there was support for the original price or rate
in some centres, ask the local ACI to investigate and confidentially verify that there was support for the original price or rate
insist that the broker discloses the name of the other counterparty

Answer(s): B

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QUESTION: 229 Topic: 3, Volume C

What kind of information should dealers and brokers take care when relaying?

Information that could be damaging to a third party
Unsubstantiated rumours
Unsubstantiated information that they suspect may be inaccurate and damaging to a third party
Price-sensitive information

Answer(s): C

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