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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SECURED TRANSACTION is the right to repossess goods as security for payment of a debt.

CONSOLIDATED FINANCIAL STATEMENTS is the end financial statement that accounts for all assets, liabilities and operating accounts of a parent and all subsidiaries.

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