QUALITY CIRCLE Definition

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QUALITY CIRCLE is a volunteer group composed of workers, sometimes students, with the stated goal to improve processes or product quality through analyses leading to process or design changes that reduce costs or enhance quality of the finished product.

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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.

PLEDGED ASSET is an asset that is transferred to a lender as security for debt. The lender of the debt takes possession of the pledged asset, but does not have ownership unless default occurs.

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