Understanding the Essentials of Order Tickets in Agency Transactions

When you're gearing up to tackle the General Securities Sales Supervisor (Series 10) exam, understanding requirements like those set forth by the Municipal Securities Rulemaking Board (MSRB) is paramount. Let’s break down one particular aspect that often trips up students: what needs to be included in an order ticket for an agency transaction. This isn't just pedantic jargon—it's foundational knowledge for anyone in the trading game.

So, which item must be recorded? If you guessed "Time of order entry," you hit the nail on the head! This timestamp is crucial—not just for compliance, but for ensuring everything runs smoothly in the bustling world of securities transactions. You see, when an order is entered into the market, that moment is key to establishing how the trade will be prioritized, processed, and ultimately executed. It’s a big deal!

Think of it like this: if you were to compare trading to a race, knowing the exact time your horse (or let's say 'order') leaves the starting gate is essential for all parties involved—clients, regulators, and brokers alike. A detailed record keeps everyone accountable and clear about the movements of the trade.

Now, you might wonder—what about the other timestamps like the time of order receipt, execution, or cancellation? While they all hold their respective importance in different contexts, they don't make the cut for what’s required to appear on the order ticket itself. They certainly provide a better picture of the order’s lifecycle, but according to MSRB regulations, it's the time of order entry that takes center stage. Keeping track of this specific timing enhances transparency and, more importantly, helps resolve any potential disputes. Imagine trying to track a snag in your order; having that clear timestamp can make all the difference.

Let’s not forget that the stakes can be high in agency transactions. Since the broker-dealer acts on behalf of a client rather than for their own account, it's crucial that everyone plays by the rules. The inclusion of the time of order entry ensures compliance with various regulatory frameworks, guarding against oversight breaches that could lead to significant consequences. Your future clients will rely on your expertise to navigate these rules and maintain trust.

As you prepare for your examination, remember that understanding the ‘why’ behind practices is just as important as memorizing them. It’s a journey of grasping not only the regulatory framework but also the spirit behind it—a commitment to integrity in your dealings. That’s what this field is truly about. And who wouldn’t want to be part of a structured, regulated industry that prioritizes transparency?

In a nutshell, as you delve deeper into the nuances of your studies, keep an eye on these TX requirements, reflect on their implications, and appreciate how they shape the world of securities. The more you understand the ‘why’ behind the rules, the more equipped you’ll be to thrive in your role as a General Securities Sales Supervisor—ready not just to pass your exam, but to excel in your future career.