LIMIT ORDER PROTECTION RULE Definition

Bookmark and Share

LIMIT ORDER PROTECTION RULE, FIINRA Rule 6541, prohibits member firms from "trading ahead" of customer limit orders that a member accepts. Members handling customer limit orders are prohibited from trading at prices equal or superior to that of the customer limit order without also executing that order at the limit price.

Learn new Accounting Terms

DRAFT, DEMAND OR SIGHT, in import / export, is a draft payable upon presentation to the drawee. It may be used when the exporter wishes to retain control of the shipment for credit or title retention reasons. The buyer must pay the bank before receiving the documents to take custody of the goods. A COD shipment is similar.

STOCK CERTIFICATE is a certificate establishing ownership of a stated number of shares in a corporations stock.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.