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A Riskless Simultaneous Transaction is the purchase of a security on a principal basis by a brokerage firm for the sole purpose of filling a customer’s order that the firm has already received. The mark up on riskless principal transactions has to be based on the firm’s actual cost for the security.
When a customer enters an order with a brokerage firm, the firm may elect to execute that order by acting as an agent or it may execute the order on a principal basis. If the firm executes an order for its own account in the market place and then offsets that order only to fill the customer’s order, the firm has executed a riskless simultaneous transaction. A riskless simultaneous transaction is also know as riskless principal transaction. The mark up or mark down must be based on the price at which the firm executed the principal order. When looking a riskless principal transaction for compensation, the transaction should be treated as an agency transaction. Pass your exam or your money back with
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The Securities Institute of America, Inc.