Which report is needed for off-order-book trades?

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Multiple Choice

Which report is needed for off-order-book trades?

Explanation:
Off-order-book trades are executions that happen outside the visible order book, so the actual deal must be captured as a trade to show what was agreed and completed. The trade report records the execution details—instrument, price, quantity, time, and counterparties—providing a clear, post-trade record for regulators and counterparties. A transaction report typically relates to the lifecycle of orders and may not reflect the final terms of the trade, which is why it isn’t the correct mechanism for off-order-book executions. So, the trade report best documents off-order-book trades.

Off-order-book trades are executions that happen outside the visible order book, so the actual deal must be captured as a trade to show what was agreed and completed. The trade report records the execution details—instrument, price, quantity, time, and counterparties—providing a clear, post-trade record for regulators and counterparties. A transaction report typically relates to the lifecycle of orders and may not reflect the final terms of the trade, which is why it isn’t the correct mechanism for off-order-book executions. So, the trade report best documents off-order-book trades.

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