A trade report sets out the trade date, whether the trade is a purchase or a sale, the issue, the quantity, the unit price, the fees, the amount to be settled, and similar items. The client checks it against its order and tells the financial institution right away if there is an error1. Legally, it is the document used for the duty to provide information without delay when a trade is concluded2. This is the provision of information upon conclusion of a contract, etc. under Article 37-4 of the Financial Instruments and Exchange Act. The document is called a document delivered at the conclusion of a contract.

What the law requires is that the financial institution provide the information to the client. It does not require the client to sign or return anything3. A trade report is separate from a trade confirmation, in which the parties set out and exchange the terms of the trade.

Notes

  1. 日本証券業協会 (Japan Securities Dealers Association), "取引報告書" (Trade report), 投資の時間 金融・証券用語集, "意味" (Meaning) and "解説" (Explanation) (in Japanese). ↩

  2. 日本証券業協会 (Japan Securities Dealers Association), "金融商品取引に係る書類のデジタル原則化に向けて" (December 2, 2021), page 6, table of the regulatory overview (row for 契約締結時等交付書面) (in Japanese). ↩

  3. "金融商品取引法" (Financial Instruments and Exchange Act, in Japanese; English translation: Japanese Law Translation), Article 37-4, paragraph 1. ↩