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Page 160 Cl Series 10, No. 199OMB No. 09200214: Approval,HIS2 (1995)U.S. Department OF COMMERCE BURL OF ME Census accordance with section 308(d) of the Public He Service Act (42 USC 242ml. Public
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The failed candle system refers to a mechanism used to identify and report on financial transactions that have not been completed successfully. This system helps regulatory bodies and organizations track incomplete trades or transactions, ensuring transparency and accountability.
Entities involved in financial markets, such as brokers, financial institutions, and trading firms, are required to file the failed candle system when they encounter incomplete transactions.
Filing the failed candle system typically involves providing specific transaction details, including the type of transaction, date, time, affected parties, reasons for failure, and any remediation steps taken. There may be a standardized form or online portal to facilitate this process.
The purpose of the failed candle system is to enhance market integrity, protect investors, and ensure that failures in transaction processing are documented and addressed promptly. It helps maintain confidence in financial markets.
Information that must be reported includes transaction identifiers, dates, times, parties involved, failure reasons, and any corrective actions taken. Additional details may be required based on regulatory guidelines.
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