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An Introduction to Trading In the Financial Markets: Technology: Systems, Data, and Networks by R. Tee Williams

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5

Step 5Trade Confirmation

Trades must be confirmed so that the principal is aware of whether an order has been executed and, if the trade is successful, how much has been executed and at what price (see Figure 4.5). Many, if not most, markets require an official confirmation, but confirmations make business sense even if they are not required. The confirmation notifies the customer of a successful transaction but also puts the customer on notice if actions are required prior to settlement.

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Figure 4.5 Step 5: Trade confirmation employs any technologies authorized by local regulations to notify an investor or trading customer of the completion of ...

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