Order Memorandum / Order Ticket Meaning & Definition

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Definition of Order Memorandum / Order Ticket

An order memorandum or order ticket is the written document filled out by a registered representative, which identifies among other things: they type of order buy or sell, the security, the amount, the customer and account number for which the order is being entered.

Applying "Order Memorandum / Order Ticket" to Securities Exams:

The terms order memorandum and order ticket are largely out of date when we think of how a brokerage firm actually operates. Very few broker dealers at this point use paper or physical tickets. Most orders are submitted by registered representatives electronically from a screen on their computer. This order screen, where the details of a trade are input can be thought of as an electronic order memorandum or ticket. This is just another example of how the test world differs from the real world. On your exam you are likely to see questions regarding what has to appear on the order memorandum or ticket, and perhaps how or when orders must be approved.