LIMIT ORDER PROTECTION RULE Definition

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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.

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MINORITY DISCOUNT is a discount for lack of control applicable to a minority interest.

REMIC is Real Estate Mortgage Investment Conduit. Refers to U.S. legislation, created with the Tax Reform Act of 1986, that allowed for the issuance of collateralized mortgage obligations.

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