Maggie Shine Series 24
Minimum Net Capital for:
-Full Service BD
-Clearing BD
-BD which carries customer accounts - correct answer ✔$250,000
Minimum Net Capital for Prime Broker - correct answer ✔$1,500,000
Minimum Net Capital for:
-Firms w/ Execution responsibility for Primer Brokers
-Qualified Block Positioners - correct answer ✔$1,000,000
Minimum Net Capital for:
-Introducing BD
-Fully Disclosed BD
-Non Clearing Firm - correct answer ✔-If does not receive customer cash or
securities
$5,000
-If receives but does not hold customer cash or securities
$50,000
-For Introducing BD to do firm-commitment underwriting
$100,000
-For introducing firm to act as dealer for its own account (more than 10
transactions a year for own account)
$100,000
,Minimum Net Capital for:
-Mutual Fund
-DPP
-M&A firms - correct answer ✔$5,000
Minimum Net Capital for Underwriters & Market Makers - correct answer
✔Minimum of $100,000
Maximum of $1,000,000
$2500 for bids over $5
$1000 for bids $5 or less
For the following quotation system (Nasdaq) List the hours, Execution
System, Reporting system, and when it must be reported - correct answer ✔-
Hours: 4 am- 8 pm
-Execution System: NMC
-Reporting System: TRF
-When reported: 10 seconds
For the following quotation system (CQS) List the hours, Execution System,
Reporting system, and when it must be reported - correct answer ✔-Hours:
9:30 am - 8 pm
-Execution System: NMC
-Reporting System: TRF
-When reported: 10 seconds
, For the following quotation system (ADF) List the hours, Execution System,
Reporting system, and when it must be reported - correct answer ✔-Hours: 8
am - 6:30 pm
-Execution System: ATS
-Reporting System: ADF has reporting functionality
-When reported:
For the following quotation system (Non Nasdaq Stocks) List the hours,
Execution System, Reporting system, and when it must be reported - correct
answer ✔-Hours: 8 am- 8 pm
-Execution System: ATS
-Reporting System: ORF
-When reported: 10 Seconds
What securities are shown on the CQS - correct answer ✔-Common &
preferred stock
-Warrants & rights listed on all exchanges
-NOT Options
What securities are shown on Nasdaq - correct answer ✔-Same as CQS
PLUS convertible bonds & foreign stocks
-NOT options
What is shown on TRACE - correct answer ✔-Registered US or foreign
corporate debt instruments including eurodollar bonds & debt sold under Rule
144A
-Investment & non investment grade debt
-Equity linked notes
-US agency or enterprise securities
Minimum Net Capital for:
-Full Service BD
-Clearing BD
-BD which carries customer accounts - correct answer ✔$250,000
Minimum Net Capital for Prime Broker - correct answer ✔$1,500,000
Minimum Net Capital for:
-Firms w/ Execution responsibility for Primer Brokers
-Qualified Block Positioners - correct answer ✔$1,000,000
Minimum Net Capital for:
-Introducing BD
-Fully Disclosed BD
-Non Clearing Firm - correct answer ✔-If does not receive customer cash or
securities
$5,000
-If receives but does not hold customer cash or securities
$50,000
-For Introducing BD to do firm-commitment underwriting
$100,000
-For introducing firm to act as dealer for its own account (more than 10
transactions a year for own account)
$100,000
,Minimum Net Capital for:
-Mutual Fund
-DPP
-M&A firms - correct answer ✔$5,000
Minimum Net Capital for Underwriters & Market Makers - correct answer
✔Minimum of $100,000
Maximum of $1,000,000
$2500 for bids over $5
$1000 for bids $5 or less
For the following quotation system (Nasdaq) List the hours, Execution
System, Reporting system, and when it must be reported - correct answer ✔-
Hours: 4 am- 8 pm
-Execution System: NMC
-Reporting System: TRF
-When reported: 10 seconds
For the following quotation system (CQS) List the hours, Execution System,
Reporting system, and when it must be reported - correct answer ✔-Hours:
9:30 am - 8 pm
-Execution System: NMC
-Reporting System: TRF
-When reported: 10 seconds
, For the following quotation system (ADF) List the hours, Execution System,
Reporting system, and when it must be reported - correct answer ✔-Hours: 8
am - 6:30 pm
-Execution System: ATS
-Reporting System: ADF has reporting functionality
-When reported:
For the following quotation system (Non Nasdaq Stocks) List the hours,
Execution System, Reporting system, and when it must be reported - correct
answer ✔-Hours: 8 am- 8 pm
-Execution System: ATS
-Reporting System: ORF
-When reported: 10 Seconds
What securities are shown on the CQS - correct answer ✔-Common &
preferred stock
-Warrants & rights listed on all exchanges
-NOT Options
What securities are shown on Nasdaq - correct answer ✔-Same as CQS
PLUS convertible bonds & foreign stocks
-NOT options
What is shown on TRACE - correct answer ✔-Registered US or foreign
corporate debt instruments including eurodollar bonds & debt sold under Rule
144A
-Investment & non investment grade debt
-Equity linked notes
-US agency or enterprise securities
