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Taking Reports and Matching Confirms (cont.)

your Main View Screen. Without having to look at order detail, you can see exactly how many shares of an order have been filled and how many remain, and can make changes with a minimum of key strokes. If all the fills were at the same price, you may have only one confirm for several orders. The orders will be adjacent to each other in any view of the Main View Screen. Since it is easy to check that the sum of those orders equals the number of shares on the confirm, the person matching confirms should have no difficulty. Just enter the same confirm number on each ticket.

Auditors will be able to see the reason for this, due to the notations in the Comment field, so you have a perfect audit trail.

Partial fills -- Alternate Procedure.

Some offices may prefer to have only one ticket for orders filled on the same day even if they were filled at different prices, and may have requested that there be only one confirm at an average price. To keep new orders for the balance from being generated, put your partial fills, (including offset broker) in the Instructions field, then at the end of the day put the consolidated quantity and number of shares in the execution block on the order ticket. This methodology also provides a perfect audit trail for what happened on the order.

Match and Record confirms

When confirms come in, it is easy to match them to the orders you entered. From the View menu, choose View by Entry date. Then choose View Unconfirmed. The View Unconfirmed Window maintains the sort used on the Main View Screen You can use any of the sort commands while in the View Unconfirmed window. Move down to the first order for the date for which you have confirms. Look at your first

confirm, and browse through that day's orders by moving down one line at a time with the arrow key until you find the order that matches. Press Ctrl+M to bring up the Match a Confirm screen. Note that the screen is similar to the Enter a Securities Order screen, but that the cursor is positioned on the Order Number field.
Check the Confirm against the ticket on the screen carefully, making sure that buys are matched to buys and sells to sells. Check the account number and name, and the name of the security, and that the price and commission on the confirm is the same as the price and commission you recorded when you took your report. Any discrepancy means an error is likely, and should be immediately investigated.
Once you are sure that the confirm

User Tip: If you bought a mutual fund directly from the fund, and the fund will be holding the customer's shares, it will often be helpful to record the fund account number on the Customer Notes page. (Press Ctrl-N to access.)  If you have noted the security type as mutual fund, there will be a special field displayed in which to record this information.
Check with your Compliance Department for how they want your to handle direct purchases from the fund that will not be networked. Experience suggests that they will want a separate Account Page and Account Number.  In most cases, Compliance will want you to use the Account Number at the Fund as the Account Number on the Account Page and the ticket, as that is how the trades are reported to the broker-dealer.

Match & Record Confirms continues. Click here for next page.