What Is A Confirmation?

2020-05-05 07:02    forextraders

Confirmation Definition. A Confirmation is a process by which the two counterparties to a trade input their instructions to a central system that compares them and, if the instructions agree, confirms them and passes them on for settlement. Generally, a document is exchanged in the process. The written correspondence details the terms of a given trade, including date and time of execution, quantity, price, and commission. Confirmation may also pertain to validating a particular trend in the forex market by observing a different charting timeframe or another technical indicator to gain additional perspectives on a particular pattern.

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