*Letters

Processing Confirmations and Affirmations for Institutional Trades

Published on:
June 1, 1998

The Operations Committee of the Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) regarding proposals by the New York Stock Exchange (NYSE), the National Association of Securities Dealers (NASD), and the Municipal Securities Rulemaking Board (MSRB) that would allow new entrants into the business of processing confirmations and affirmations for institutional trades, Securities Exchange Act Release Nos. 34-39830; 34-39831; 34-39832; and 34-39829.  SIA offer a specific set of qualifications for service providers that intermediate between broker-dealers and their customers in the institutional trade comparison process.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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