POSITIVE REQUEST Definition

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POSITIVE REQUEST see POSITIVE CONFIRMATION.

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LIMIT ORDER DISPLAY RULE is an SEC Order Handling Rule requiring a Market Maker that receives a customer limit order priced at or better than its current quote and that does not immediately execute the order, to display the order to the entire marketplace. Alternatively, the Market Maker can choose to send the order to another Market Maker or ECN for display. There is no limit order display rule on the OTCBB.

DUAL PURPOSE TEST is when audit procedures are classified both as substantive tests and tests of controls. When an audit procedure provides both types of evidence it is a dual purpose test.

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