Series 28: Freeriding

Taken from our Series 28 - Introducing Broker-Dealer Financial and Operations Principal Qualification Examination

Definition of the term Freeriding...

the prohibited practice of buying securities and selling them the next day to pay for them before the settlement date. Typically if a customer freerides, the sell order will go through, but the account is then frozen to prevent further freeriding.

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Nikita Brown, BMI. Atlanta, GA

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