Under the Model Code, If a Broker Shouts "Done" or "Mine

question 609

Multiple Choice

Under the Model Code, if a broker shouts "done" or "mine" at the very moment a dealer shouts "off":

• A) No deal is done and the broker should inform both counterparties accordingly.
• B) The deal is done and the broker should inform both counterparties accordingly.
• C) The matter should be resolved in consultation with senior management of the 3 institutions.
• D) The ACI's Committee for Professionalism will investigate and advise accordingly.

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Definitions:

Consolidated Total

Combined total figures that merge the financial statements of a parent company and its subsidiaries into one comprehensive financial statement.

Equity Methods

An accounting technique used to record investments in associate companies, where the investment is initially recorded at cost and adjusted according to the investor's share of the investee's profits or losses.

Cost

The amount of money or resources expended to gain an object or service.

Ethical

Pertaining to morals, principles of right and wrong, and the conduct that is considered correct.