FINRA Rule 11360

That supplementary material sets forth the Uniform Delivery Ticket Form — a structured form containing fields for the delivering member's name, address, and telephone number; a statement that the attached securities are delivered against payment; codes for the originator number, transaction number, settlement type, trade date, settlement date, and delivery date; an identification number, account name, and clearing house number; special delivery instructions; and the quantity, CUSIP number, security description, and net amount of the securities being delivered. FINRA Rule 11360 was amended by SR-FINRA-2010-030 effective December 15, 2010, as part of the Uniform Practice Code's transfer into the Consolidated FINRA Rulebook. One selected notice is associated — Regulatory Notice 10-49.

FINRA Rule 11360 sits within the 11300 Delivery of Securities subsection of the 11000 Uniform Practice Code as the series-level marker for the units of delivery cluster, immediately following FINRA Rule 11350's part delivery framework and immediately preceding FINRA Rule 11361, the first security-type-specific units of delivery rule addressing stocks.

The Uniform Delivery Ticket Form: Completing the Trio of Standardized Documents

FINRA Rule 11360's Supplementary Material .01 — the Uniform Delivery Ticket Form — completes a trio of standardized documents this dictionary has now encountered across its coverage of the Uniform Practice Code, each one mandated by FINRA Rule 11100(d)'s CUSIP number requirement and each addressing a distinct stage of the transaction lifecycle. 

FINRA Rule 11210's Supplementary Material .01 set forth the Uniform Comparison Form — the document each party sends on the trade date to memorialize and verify the transaction's terms, as examined in this dictionary's entry on FINRA Rule 11210. FINRA Rule 11360's Supplementary Material .01 now sets forth the Uniform Delivery Ticket Form — the document that accompanies the actual physical or operational delivery of the securities themselves, completing the documentary chain from initial trade confirmation through to final delivery.

The structural similarity between the two forms is notable — both the Uniform Comparison Form and the Uniform Delivery Ticket Form contain fields for the member's identifying information, codes for originator number and transaction number, trade date and settlement date, an identification number, special delivery instructions, and the core transaction details of quantity, CUSIP number, security description, and net amount. 

This shared field structure reflects the forms' shared origin in the 1971 Final Report of the Banking and Securities Industry Committee entitled Four Uniform Forms, referenced in the footnote to FINRA Rule 11210(b) and discussed in this dictionary's entry on that rule — the Uniform Delivery Ticket appears to be one of the additional forms within that same 1971 standardization framework, alongside the Uniform Comparison and the Uniform Transfer Instruction Form that FINRA Rule 11100(d) also references.

The Uniform Delivery Ticket Form's distinguishing field — the attached securities are delivered against payment — directly reflects the delivery-versus-payment concept central to FINRA Rule 11310's book-entry settlement mandate and FINRA Rule 11330's payment framework, both examined in this dictionary's earlier entries. 

The form's delivery date field — distinct from the trade date and settlement date fields that the Uniform Comparison Form also contains — reflects FINRA Rule 11320's dates of delivery framework, capturing the specific date on which the physical or operational delivery the ticket accompanies actually occurs, which, depending on the contract type under FINRA Rule 11320's various paragraphs, may or may not coincide precisely with the settlement date.

The Code 560 Reference

The Uniform Delivery Ticket Form, as confirmed from the FINRA.org page, includes a numeric reference — 560 — appearing among the form's codes section alongside the originator number, transaction number, settlement type, trade date, settlement date, and delivery date fields. 

While the specific significance of this numeric code is not separately confirmed from the available source material, its placement within the codes portion of the form suggests it functions as a standardized identifier of some kind within the form's coding scheme — potentially a form-type code, a transaction-type code, or a similar categorization code that the form's processing systems use to identify or route delivery tickets of this particular type. 

Without additional confirmed source material specifically explaining this code's function, this dictionary notes its presence on the form as confirmed from the direct FINRA.org fetch, without speculating further as to its precise operational meaning.

FINRA Rule 11360 as the Gateway to the Units of Delivery Cluster

FINRA Rule 11360's position as the series-level marker introducing FINRA Rules 11361 through 11365 mirrors the structural pattern this dictionary has observed throughout its coverage of the Uniform Practice Code — series-level markers such as FINRA Rule 11000, FINRA Rule 11100, FINRA Rule 11200, and FINRA Rule 11300 itself typically carry no operative text of their own, instead organizing and introducing the substantive rules beneath them. FINRA Rule 11360 follows this pattern with one notable addition — unlike those purely organizational markers, FINRA Rule 11360 carries its own Supplementary Material, the Uniform Delivery Ticket Form, even though it has no operative rule text in the traditional sense.

This combination — no operative rule text, but a substantive Supplementary Material — positions FINRA Rule 11360 as performing a dual function. As a series-level marker, it introduces and organizes the five security-type-specific units of delivery rules that follow — FINRA Rule 11361 for stocks, FINRA Rule 11362 for bonds, FINRA Rule 11363 for unit investment trust securities, FINRA Rule 11364 for certificates of deposit for bonds, and FINRA Rule 11365 for securities traded as units or bonds with stock attached. As the holder of the Uniform Delivery Ticket Form, it simultaneously provides the documentary infrastructure that accompanies deliveries made in whatever units each of those five following rules establishes — the Uniform Delivery Ticket's quantity field will record a delivery in whatever unit — round lots of stock under FINRA Rule 11361, the applicable bond denomination under FINRA Rule 11362, and so forth — the specific security type's units of delivery rule establishes.

The Five Rules That Follow

FINRA Rule 11360's position as gateway to the units of delivery cluster means its significance is best understood in light of the five rules it introduces, each addressing a distinct security type's standardized delivery quantities.

FINRA Rule 11361, Units of Delivery — Stocks, will address the round-lot and odd-lot framework for equity securities — the framework whose odd-lot terminology FINRA Rule 11350's exception, examined in this dictionary's immediately preceding entry, depends upon.

FINRA Rule 11362, Units of Delivery — Bonds, will address the standardized denominations in which bonds and similar evidences of indebtedness are conventionally delivered — a framework that interacts with FINRA Rule 11170's part-redeemed bonds settlement price formula and FINRA Rule 11150's ex-interest framework for flat-traded bonds, both examined earlier in this dictionary's coverage.

FINRA Rule 11363, Units of Delivery — Unit Investment Trust Securities, will address the delivery units applicable to UIT securities — connecting to FINRA Rule 11100(a)(4)'s carve-back of UIT secondary market transactions into Uniform Practice Code coverage and FINRA Rule 11220's specific requirement that comparisons and confirmations for UIT securities include payment options, both examined in this dictionary's earlier entries.

FINRA Rule 11364, Units of Delivery — Certificates of Deposit for Bonds, will address a more specialized category — certificates of deposit representing underlying bonds, a structure historically used in certain bond financing and trading arrangements.

FINRA Rule 11365, Trading Securities As Units or Bonds With Stock, will address the most structurally complex category — securities combining characteristics of multiple underlying instrument types, as anticipated in this dictionary's FINRA Rule 11300 entry.

Connection to FINRA Rules 11100, 11210, 11300, 11310, 11320, 11330, 11350, and 11361 Through 11365

FINRA Rule 11360 connects to FINRA Rule 11100(d) — whose CUSIP number requirement for the Uniform Delivery Ticket is embodied directly in the Supplementary Material .01 form's CUSIP number field. It connects to FINRA Rule 11210 — whose Supplementary Material .01 Uniform Comparison Form shares both its 1971 Four Uniform Forms origin and its structural field layout with FINRA Rule 11360's Uniform Delivery Ticket Form, the two forms together spanning the documentary chain from trade confirmation through delivery. It connects to FINRA Rule 11300 as its parent series marker, within which FINRA Rule 11360 introduces the units of delivery cluster as the final major component of the FINRA Rule 11300 subsection. It connects to FINRA Rules 11310, 11320, and 11330 — whose book-entry settlement, dates of delivery, and payment frameworks respectively are reflected in the Uniform Delivery Ticket Form's delivered against payment language, delivery date field, and overall function as the document accompanying the delivery-versus-payment exchange those rules govern. It connects to FINRA Rule 11350 — whose odd-lot exception depends on the units of delivery vocabulary that FINRA Rule 11360 introduces and FINRA Rule 11361 will establish in detail for stocks. And it connects directly to FINRA Rules 11361 through 11365 — the five security-type-specific units of delivery rules that FINRA Rule 11360, as series marker, organizes and introduces.

Examination Relevance and Key Takeaways

FINRA Rule 11360 is tested on the Series 7 and Series 24 examinations as the series-level marker introducing the units of delivery framework — a marker notable for carrying its own Supplementary Material, the Uniform Delivery Ticket Form, despite having no operative rule text of its own.

The key points to retain are these: FINRA Rule 11360 has no operative rule text — The Rule tab shows only placeholder bullets — but introduces and organizes the five security-type-specific units of delivery rules that follow, FINRA Rules 11361 through 11365, addressing stocks, bonds, unit investment trust securities, certificates of deposit for bonds, and securities traded as units or bonds with stock attached respectively; FINRA Rule 11360's Supplementary Material .01 sets forth the Uniform Delivery Ticket Form, completing alongside FINRA Rule 11210's Uniform Comparison Form and the Uniform Transfer Instruction Form referenced in FINRA Rule 11100(d) the trio of standardized documents tracing to the 1971 Final Report of the Banking and Securities Industry Committee entitled Four Uniform Forms; the Uniform Delivery Ticket Form contains fields for the delivering member's identifying information, a delivered against payment statement reflecting FINRA Rule 11310's book-entry settlement mandate and FINRA Rule 11330's payment framework, codes including originator number, transaction number, settlement type, and a numeric code 560, trade date, settlement date, and delivery date fields reflecting FINRA Rule 11320's dates of delivery framework, an identification number, account name, clearing house number, and special delivery instructions, and the core transaction details of quantity, CUSIP number, security description, and net amount; and the rule was amended December 15, 2010 through SR-FINRA-2010-030, with one selected notice — 10-49.