EXTINGUISHMENT OF DEBT Definition

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EXTINGUISHMENT OF DEBT is the debtors satisfaction of the obligation to a creditor, either legally or in-substance. A debt shall be accounted for as having been extinguished in a number of circumstances, including when it has been settled through repayment or replacement by another liability.

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FIRM QUOTATION is the requirement that a Market Maker execute an order from another broker/dealer at its displayed price for the normal unit of trading, or for its displayed size, whichever is greater.

LEV (LEVA) is a currency of Bulgaria.

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