Chapter 4 - CISI IT

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1. If a sell-side firm is filling the order as an agent, where will it forward the order to?

  • an investment exchange and charge the investor a commission
  • an investment exchange
  • A clearing house
  • A settlement agent
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2. What is an "EXPIRY DATE" order?

  • if the order cannot be filled by this date then it should be treated as cancelled
  • There is no time limit on this order
  • Either complete the order in full or reject it

3. What is a "GOOD UNTIL CANCELLED" order?

  • There is no time limit on this order
  • Either complete the order in full or reject it
  • Buy or sell at the best available price the member firm can obtain at the time
  • if the order cannot be filled by this date then it should be treated as cancelled

4. What is a "FILL OR KILL" order?

  • sell if and when the market price falls to this level
  • There is no time limit on this order
  • either complete the order in full or reject it
  • if the order cannot be filled by this date then it should be treated as cancelled

5. The ability to market-to-market is a function in a Dealing System required by which side?

  • Sell-side
  • Buy-side
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