11362. Units of Delivery — Bonds

(a) Coupon Bonds
Each delivery of bonds or similar evidences of indebtedness in coupon bearer form shall be made in denominations of $1,000 or in denominations of $100 or multiples thereof aggregating $1,000.
(b) Registered Bonds
Each delivery of bonds or similar evidences of indebtedness in fully registered bond issues shall be made in denominations of $1,000 or multiples thereof or in amoun

11361. Units of Delivery — Stocks

(a) Stock certificates delivered in settlement of contracts:
(1) in which the transaction is for 100 shares may be in one certificate for the exact number of shares or certificates totaling 100 shares.
(2) in which the transaction is greater than 100 shares and a multiple of 100 shall be in the exact amount of the contract, or in multiples of 100 shares, or in amounts from which units of 100 shares can be made, or a combination thereof equaling the amount of the co

11350. Part Delivery

The purchaser shall be required to accept a part delivery on any contract due provided the portion remaining undelivered is not an amount which includes an odd-lot which was not a part of the original transaction.
Amended by SR-FINRA-2010-030 eff. Dec. 15, 2010.
Amended eff. Jan. 1, 1973.

11340. Stamp Taxes

(a) Members shall, as required by the rules and regulations of jurisdictions imposing taxes on sales, purchases or other transfers of securities, furnish tax stamps or pay the tax through securities clearing organizations.
(b) In the event that taxes are due pursuant to state stock transfer taxes, the seller shall furnish to the buyer at the time of delivery a sale memorandum ticket to which shall be affixed and canceled sufficient state transfer stamps as are required by the state in which the sale occurs, or the tax

11330. Payment

The party making delivery shall have the right to require the purchase money to be paid upon delivery by certified check, cashier's check, bank draft or cash.
Amended by SR-FINRA-2010-030 eff. Dec. 15, 2010.

Selected Notice: 10-49.

11320. Dates of Delivery

(a) For "Cash"
In connection with a transaction for "cash," delivery shall be made at the office of the purchaser on the day of the transaction.
(b) "Regular Way"
In connection with a transaction "regular way," delivery shall be made at the office of the purchaser on, but not before, the first business day following the date of the transaction.
(c) "Seller's Opt

11310. Book-Entry Settlement

(a) A member shall use the facilities of a securities depository for the book-entry settlement of all transactions in depository eligible securities with another member or a member of a national securities exchange or a registered securities association.
(b) A member shall not effect a delivery-versus-payment or receipt-versus payment transaction in a depository eligible security with a customer unless the transaction is settled by book-entry using the facilities of a securities depository.
Subscribe to