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The correct choice highlights the necessity for disclosing the time of the trade for agency trades, as per MSRB Rule G-15. This requirement ensures transparency for customers regarding when the transaction took place, which is critical for understanding the trade’s execution and its context in the market.

Knowing the time of the trade allows customers to make more informed decisions, particularly concerning price movements and market conditions affecting the municipal security. The rule aims to enhance customer confidence in the fairness and integrity of the trading process in municipal securities by ensuring that they have access to vital information related to their transactions.

While other elements, such as the amount of the commission for agency trades or the amount of the mark-up for principal trades, are also important in different contexts of trade confirmations, they are not specified requirements under Rule G-15 like the time of the trade for agency transactions. Similarly, while disclosing the name of the other party involved in a trade provides useful context, it is not a mandated disclosure under this particular rule. The emphasis is distinctly placed on the timing of trades to better inform customers.