INMA 9A.1.3 Confirmation notes — when transaction taken to be executed

(1) If an INMA firm executes a transaction that requires a confirmation note and the execution is outside normal market hours, the transaction is taken to be executed on the next business day.
(2) If an INMA firm executes a series of transactions, all the transactions may be taken to be executed at the time the last transaction is executed if a record of the time that each individual transaction is executed is made (for example, by means of a time stamp).
(3) If:
(a) an INMA firm aggregates a transaction for a customer order (the aggregation) with an own account transaction or a transaction for another customer order; and
(b) the firm then allocates the relevant investment under rule 9B.1.9 (Aggregation of customer orders — allocation); the aggregation is taken to have been executed at the time of allocation.
Inserted by QFCRA RM/2019-4 (as from 1st January 2020).