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Series 24
| Question | Answer |
|---|---|
| CHURNING | EXCESSIVE TRADING |
| BID | PRICE AN INVESTOR CAN SELL TO A BROKER DEALER |
| ACES ADVANCED COMPUTERIZED EXECUTION SERVICE | ALLOWS ORDER ENTRY FIRMS TO ROUTE ORDERS TO MARKET MAKERS TRADING SYSTEMS. NASDAQ - MARKET AND LIMIT ORDERS |
| ADR | NEGOTIABLE CERTIFICATE FOR SHARES OF A STOCK IN A FOREIGN CORP. BOUGHT AND SOLD IN AMERICA |
| ASK | OFFER - PRICE INVESTOR CAN BUY FROM BROKER DEALER |
| ADTV | AVERAGE DAILY TRADING VOLUME CALCULATED OVER THE PRECEDING FOUR CALENDAR WEEKS |
| ARBITRAGE | SIMULTANEOUS PURCHASE AND SALE OF SAME OR RELATED SECURITIES TO TAKE ADVANTAGE |
| CHINESE WALL | DIVISION WITHIN BROKERAGE FIRM THAT PREVENTS INSIDE INFO FROM GETTING TO TRADERS |
| CLOSED END MANAGEMENT CO. | INVESTMENT CO. WHO ISSUES A FIXED # OF SHARES IN ACTIVELY MANAGED PORTFOLIO OF SECURITIES. MARKET PRICE DETERMINED BY SUPPLY AND DEMAND |
| SETTLEMENT DATE, DATE DELIVERED | WHEN IS THE COMPLETION OF TRANSACTION |
| CQS CONSOLIDATED QUOTATION SYSTEM | QUOTATION AND LAST SALE REPORTING FOR LISTED SECURITIES IN THIRD MARKET & QUOTES BY SPECIALISTS |
| CONSOLIDATED TAPE | SERVICE OF NY STOCK EXCHANGE - REAL TIME REPORTS OF SECURITIES TRANSACTIONS AS THEY OCCUR |
| CROSSED MARKET | ONE MARKET MAKES BIDS FOR STOCK AT A HIGHER PRICE THAN ANOTHER MARKET MAKER ASKS FOR THE STOCK |
| DEFINED CONTRIBUTION PLAN | QUALIFIED, SPECIFIES AMOUNT EMPLOYER WILL CONTRIBUTE ANNUALLY TO THE PLAN |
| DEFINED BENEFIT PLAN | QUALIFIED SPECIFIES AMT OF MONEY EMPLOYEE WILL RECEIVE AT RETIREMENT |
| DELIVERY VERSUS PAYMENT | SETTLEMENT WHERE SECURITIES ARE DELIVERED TO A BANK IN EXCHANGE FOR PAYMENT OF AMT DUE |
| DPP DIRECT PARTICIPATION PROGRAM | BUSINESS ORGANIZED TO PASS ALL INCOME, GAINS, LOSSES, TAX BENEFITS TO THE OWNERS, THE INVESTORS. USUALLY LP. OIL & GAS, R.E. ETC. |
| DUE BILL | STATEMENT SAYS SELLER NEEDS TO DELIVER DIVIDEND TO PURCHASER |
| ECN ELECTRONIC COMMUNICATIONS NETWORK | THIRD PARTY ORDERS ENTERED BY MARKET MAKERS, INSTITUTIONAL INVESTORS |
| EX DATE | FIRST DATE A SECURITY IS TRADED WITHOUT ENTITLING BUYER TO RECEIVE DISTRIBUTIONS PREVIOUSLY DECLARED |
| EXEMPT TRANSACTION | NO FEDERAL REGISTRATION - EXAMPLES - REGULATION A,S,D OFFERINGS |
| REGULATION A | EXEMPT FROM REGISTRATION - SMALL PUBLIC OFFERINGS NO MORE THAN 5 MIL WORTH OF SECURITIES IN 12 MTH PERIOD |
| REGULATION D | EXEMPT FROM REGISTRATION - OFFERINGS SOLD TO MAX OF 35 NON-ACCREDITED INVESTORS. |
| REGULATION M | SEC REGULATION THAT ADDRESSES MARKET MAKER ACTIVITIES DURING SYNDICATION |
| SYNDICATE | INVESTMENT BANKERS HANDLE DISTRIBUTION AND SALE OF SECURITY ON BEHALF OF ISSUE. |
| Fidelity Bond | INSURANCE FOR EMPLOYEE THEFT |
| OTC transactions | 5% MARK UP IS ON WHAT? |
| 401K | Tax deferred, offered by employer |
| 403b | Tax deferred annuity avail to employees of public schools and non profits Orgs |
| FREE RIDING | BUYING AND THEN IMMEDIATELY SELLING WITHOUT MAKING PAYMENT |
| HAIRCUT | REDUCTION IN VALUE OF SECURITIES IN BROKER DEALER TRADING - INVESTMENT ACCT USED IN CALCULATING NET CAPITAL |
| HYPOTHECATE | PLEDGING TO A BROKER DEALER SECURITIES BOUGHT ON MARGIN AS COLLATERAL FOR THE MARGIN LOAN |
| PARENT, MOTHER 0R FATHER IN LAW, HUSBAND, WIFE, CHILD, SIBLING OR RELATIVE U SUPPORT FINANCIALLY | WHO ARE IMMEDIATE FAMILY? |
| IRA | FOR EMPLOYED INDIVIDUALS THAT ALLOWS ANNUAL CONTRIBUTION OF 100% OF EARNED INCOME UP TO $5000. SOME OR ALL TAX DEDUCTIBLE BASED ON AGI |
| INSIDE MARKET | BEST (HIGHEST) BID PRICE AT WHICH AN OTC STOCK CAN BE SOLD AND THE BEST (LOWEST) ASK PRICE AT WHICH THE SAME STOCK CAN BE BOUGHT IN THE INTER DEALER MARKET |
| INTERPOSITIONING | PLACING A THIRD PARTY IN THE MIDDLE OF A TRADE BETWEEN BROKER DEALER AND BEST AVAIL MARKET |
| INTERSTATE OFFERING | ISSUE REGISTERED WITH SEC - SOLD TO RESIDENTS OF STATES OTHER THAN WHERE ISSUER DOES BUSINESS |
| INTRASTATE OFFERING | ISSUE EXEMPT FROM REGISTRATION - AVAIL TO CO'S THAT DO BUS IN ONE STATE AND SELL SECURITIES ONLY TO RESIDENTS OF THAT SAME STATE |
| INTRODUCING BROKER | BROKER DEALER THAT DOES NOT HOLD CUSTOMER'S MONEY OR SECURITIES - INSTEAD IT INTRODUCES CUSTOMER ACCTS TO CLEARING B/D WHICH HOLD ALL CASH ND SECURITIES FOR THOSE ACCTS |
| INVESTMENT BANKER | INSTITUTION IN THE BUSINESS OF RAISING CAPITAL FOR CORPS AND MUNICIPALITIES |
| KEOGH PLAN | QUALIFIED TAX DEFERRED FOR SELF EMPLOYED |
| BASIC LEVEL OF NASDAQ SERVICE - UP-TO-MINUTE INSIDE BID AND ASK QUOTES ON HUNDREDS OF OTC STOCKS | LEVEL ONE |
| 2ND LEVEL OF NASDAQ SERVICE - UP-TO-MINUTE INSIDE BID AND ASK QUOTES AND BIDS AND ASKS OF EACH MARKET MAKER FOR A SECURITY | LEVEL II |
| HIGHEST LEVEL NASDAQ SERVICE - UP-TO-MINUTE INSIDE BID AND ASK QUOTES AND BIDS AND ASKS OF EACH MARKET MAKER FOR A SECURITY AND ALLOWS EACH MARKET MAKER TO ENTER CHANGES IN THOSE QUOTES | LEVEL III |
| LOAN CONSENT AGREEMENT (OPTIONAL) | PERMITS FIRM TO LEND THE MARGINED SECURITIES TO OTHER BROKERS |
| LOCKED MARKET | NO SPREAD BETWEEN BID AND ASK ON SAME SECURITY. |
| MAKE A MARKET | STAND READY TO BUY OR SELL A SECURITY FOR ITS OWN ACCT |
| MARKDOWN | DIFFERENCE BETWEEN HIGHEST CURRENT BID PRICE AMONG DEALERS AND THE LOWER PRICE THAT A DEALER PAYS TO A CUSTOMER |
| MARK TO THE MARKET | TO ADJUST VALUE OF THE SECURITIES IN AN ACCT TO THE CURRENT MARKET VALUE OF THOSE SECURITIES. USED TO CALCULATE THE MARKET VALUE AND EQUITY IN MARGIN ACCT |
| MARKUP | DIFFERENCE BETWEEN THE LOWEST CURRENT OFFERING PRICE AMONG DEALERS AND THE HIGHER PRICE A DEALER CHARGES A CUSTOMER. |
| MINUS TICK | EXECUTION PRICE THAT IS BELOW THE PREVIOUS BY A MINIMUM AMT |
| MSRB | NO ENFORCEMENT POWERS, WORKS UNDER SUPERVISION OF SEC |
| NASD RULE 2711 | DEALS WITH RESEARCH ANALYST CONFLICT OF INTEREST RULES |
| NASD RULE 2790 | DEALS WITH IPO'S OF COMMON STOCK. DEFINES RESTRICTED PERSONS AS MEMBER FIRMS, EMPLOYEES OF MEMBER FIRMS AND IMMEDIATE FAMILIES, FINDERS, FIDUCIARIES, MANAGERS AND 10% OR MORE OWNERS OF MEMBER FIRMS. |
| NATIONAL QUOTATION BUREAU | COMPILED QUOTES FROM MARKET MAKERS IN OTC STOCKS AND BONDS. WEEKLY PINK SHEETS REPORT STOCK QUOTES AND YELLOW SHEETS REPORT CORPORATE BOND QUOTES |
| NAV | VALUE OF MUTUAL FUND SHARE CALCULATED ONCE A DAY BASED ON CLOSING MARKET PRICE. DONE BY DEDUCTING FUND'S LIABILITIES FROM ASSETS AND DIVIDING THIS BY # OF SHARES OUTSTANDING |
| NET CAP | AMT OF CASH AND ASSETS READILY CONVERTIBLE INTO CASH THAT A BROKER DEALER OWNS IN EXCESS OF LIABILITIES |
| NOMINAL OWNER | PERSON WHO'S NAME SECURITY IS REGISTERED IN IF THAT PERSON IS OTHER THAN THE OWNER |
| OFFERING CIRCULAR | AN ABBREVIATED PROSPECTUS USED BY CORPS ISSUING LESS THAN $5 MIL OF STOCK. REGULATION A ALLOWS THESE OFFERINGS AN EXEMPTION FROM FULL REGISTRATION. |
| OMNIBUS ACCT | MASTER ACCT IN THE NAME OF THE CARRYING BROKER DEALER THAT HOLDS SECURITIES |
| OTC BULLETIN BOARD | ELECTRONIC QUOTE SYSTEM FOR EQUITY SECURITIES THAT ARE NOT LISTED ON A NATIONAL EXCHANGE |
| PAINTING THE TAPE | CREATING A FALSE APPEARANCE OF ACTIVE TRADING TO INDUCE CUSTOMERS TO EITHER BUY OR SALE |
| PATTERN DAY TRADER | SOMEONE WHO EXECUTES 4 OR MORE DAY TRADES IN A FIVE-BUSINESS DAY PERIOD. MINIMUM EQUITY FOR SUCH ACCTS IS $25,000. |
| PIGGYBACK EXEMPTION | EXEMPTION FROM MARKET MAKER FILING RULE 15C2-11 - IF SECURITY HAS BEEN QUOTED ON AT LEAST 12 BUSINESS DAYS OVER PAST 30 CALENDARS AND NO MORE THAN 4 DAYS WITHOUT QUOTE DURING THIS PERIOD |
| PINK SHEETS | WEEKLY PUBLICATION COMPILED BY THE NATIONAL QUOTATION BUREAU CONTAINING WHOLESALE QUOTES FOR OTC STOCKS |
| PRINCIPAL APPROVAL, DOES NOT NEED TO BE FILED WITH FINRA | PUBLIC APPEARANCES REQUIRES? |
| QUALIFIED PLAN | PLAN WHERE YOU GET RECEIVE TAX DEDUCTIBLE CONTRIBUTIONS |
| RECLAMATION | WHEN A BUYER, AFTER ACCEPTING SECURITIES AS GOOD DELIVERY, LATER DISCOVERS THEY ARE NOT GOOD FORM. |
| RED HERRING | PRELIMINARY PROSPECTUS |
| REGISTERED BY COORDINATION | ALLOWS TO BE SOLD IN STATE. DUPLICATE REGISTRATION IS FILED WITH STATE THAT BECOMES EFFECTIVE AT SAME TIME FED REGISTRATION STATEMENT BECOMES EFFECTIVE |
| REGISTRATION BY QUALIFICATION | REGISTRATION THAT ALLOWS SECURITY TO BE SOLD IN STATE. HARDEST ONE TO GET THROUGH |
| REGULATION T | FEDERAL RESERVE BOARD REGULATION THAT GOVERNS CASH ACCTS AND AMT OF CREDIT BROKERS CAN EXTEND TO CUSTOMERS FOR PURCHASE OF SECURITIES. LOAN VALUE IS 50% = PAYMENT DEADLINE IS TOW DAYS BEYOND REGULAR WAY (SO 5 DAYS) |
| REGULATION U | FED RESERVE BOARD REGULATION GOVERNS LOANS BY BANKS TO BROKER DEALERS FOR PURCHASE OF SECURITIES. AD LOANS FROM BANKS TO CUSTOMERS. |
| RE - HYPOTHECATION | PLEDGING OF CLIENT'S SECURITIES AS COLLATERAL FOR BANK LOAN. MAY DO UP TO 140% OF A CUSTOMER'S DEBIT BALANCE |
| RESTRICTED SECURITY | UNREGISTERED, NONEXEMPT SECURITY ACQUIRED DIRECTLY OR INDIRECTLY FROM ISSUER. DOES NOT INVOLVE A PUBLIC OFFERING |
| RETENTION REQUIREMENT | 50% OF PROCEEDS OF ANY SALE MUST BE RETAINED IN ACCT TO REDUCE DEBIT BALANCE. |
| 1934 | EXCHANGE ACT REGARDING SEC, EXCHANGES, OTC, FED RES BOARD, |
| SIPC | PROTECT CLIENTS IF FIRMS GO BANKRUPT. PROVIDES CUSTOMERS UP TO $500,000 COVERAGE FOR CASH AND SECURITIES (CASH LIMITED TO 100,000) |
| SELLING AWAY | REP SELLING PRIVATE SECURITIES TRANSACTIONS WITHOUT KNOWLEDGE AND CONSENT OF EMPLOYER. |
| SHELF OFFERING | ALLOWS ISSUER TO REGISTER SECURITY WITHOUT SELLING THE ENTIRE ISSUE AT ONCE BUT CAN SELL LIMITED PORTIONS OVER 2 YEAR PERIOD. |
| SHORT AGAINST THE BOX | SELLING A SECURITY THAT THE SELLER OWNS BUT PREFERS NOT TO DELIVER. TO DEFER TAXATION. |
| SIMPLE ARBITRATION | CLAIMS OF LESS THAN 25000 ARE SETTLES THIS WAY |
| SMA | LINE OF CREDIT |
| SPREAD | DIFFERENCE BETWEEN BID AND ASK. NEW ISSUE DIFFERENCE BETWEEN POP AND PROCEEDS TO ISSUER |
| STABILIZING | BIDDING AT OR BELOW POP OF NEW ISSUE. TO PREVENT PRICE FROM DROPPING SHARPLY DURING IPO |
| STANDBY UNDERWRITER | AGREES TO BUY ANY PART NOT BEEN PURCHASED BY CURRENT STOCKHOLDERS THROUGH RIGHTS OFFERING. OFFERS IT TO PUBLIC. |
| SUBORDINATED LOAN | LOAN PLACED BELOW OTHER DEBTS |
| TENDER OFFER | OFFER TO BUY FOR CASH OR CASH PLUS SECURITIES |
| TOMBSTONE | ADVERTISEMENT LIMITED TO BASIC INFO ABOUT OFFERING |
| TRADING AHEAD | ENGAGING IN TRADING ACTIVITY IN ANTICIPATION OF ISSUANCE OF RESEARCH REPORTS REPORTS |
| 12B-1 ASSET BASED FEES | PROVISION OF INVESTMENT CO. ACT OF 1940 THAT ALLOWS MUTUAL FUND TO CHARGE FEES FOR PROMOTION AND SALE CONNECTED WITH DISTRIBUTION OF ITS SHARES |
| UIT - UNIT INVESTMENT TRUST | INVESTMENT CO. THAT SELLS A FIXED NUMBER OF REDEEMABLE SHARES IN PORTFOLIO OF SECURITIES AND IS DIVERSIFIED . ORGANIZED UNDER TRUST INDENTURE. |
| WHEN ISSUED SECURITY | SECURITY AUTHORIZED AND SOLD TO INVESTORS BEFORE CERTS ARE READY FOR DELIVERY |
| YELLOW SHEETS | DAILY PUBLICATION BY NATIONAL QUOTATION BUREAU - OTC BONDS |
| SEC RULE 101 | LIMITS ACTIVITY OF UNDERWRITERS |
| SEC RULE 102 | PROHIBITS CERTAIN ACTIVITIES DURING UNDERWRITING |
| SEC RULE 103 | ALLOWS PASSIVE MARKET MAKING DURING RESTRICTED PERIOD |
| SEC RULE 104 | REGULATES STABILIZING BIDS |
| SEC RULE 105 | PROHIBITS MANIPULATIVE SHORT SALES IN ADVANCE OF PUBLIC OFFERING UNDER REG M |
| EXEMPT TRANSACTIONS | REG A (SMALL OFFERINGS) RULE 147 (INTRASTATE OFFERINGS (IN) REG D (PRIVATE PLACEMENTS) RULE 145 (CORP. RECLASSIFICATIONS) REG S (OFFSHORE TRANSACTIONS) |
| RULE 147 | INTRASTATE EXEMPTION (WITHIN STATE) 80% ISSUERS ASSETS MUST BE IN STATE 80% ISSUERS REVENUE IN STATE 80% PROCEEDS OFFERING IN STATE ALL SALES MADE TO RESIDENTS OF THAT STATE FORM 147 FILED AT LEAST 10 DAYS PRIOR TO EFFECTIVE DATE OF OFFERING |
| REG A | ACT OF 1933 EXEMPTION FROM REGISTRATION SMALL OFFERINGS AT $5 MIL OR LESS |
| 250,000 | CARRYING FIRM NET CAP |
| 10,000 shares, $100,000 value | Trade alongside customer limit order - how many shares and what value? |
| 125,000 | BD making market in 50 stocks for more than $5.00 share - minumim net cap of |
| 105% | SMALL FIRMS ALLOWED TO MAKE RESERVE COMPUTATION MONTHLY - MUST DEPOSIT WHAT %? |
| Business day following TRADE! date | Blotters must be posted when? |
| Equity issues not listed on any other exchange | OTCBB - what is eligible? |
| 2 ARE QUOTED ELECTRONICALLY | 3 QUOTE RULE NOT NEEDED IF WHAT |
| 60 | GUARDIANSHIP - ACCT MUST BE SET UP WITHIN HOW MANY DAYS OF COURT ORDER? |
| 13G | WHICH FORM NEEDS TO BE FILED IF MUTUAL FUND OWNS 5% INTEREST IN COMPANY |
| 1 year, 5 years | Board of Directors of Mutual Funds minimum and maximum terms? |
| 50,000 | Minimum net cap for introducing firm that accepts customer securities for prompt forwarding to clearing firm |
| NASDAQ | 2ND MARKET, UNLISTED (PART OF OTC MARKET) EQUITY & EQUIVALENTS (CONVERTIBLE BOND, RIGHTS, ADR'S |
| NOT HELD ORDERS | SPECIALIST CANNOT ACCEPT |
| SPECIALIST | WHO DETERMINES OPENING QUOTE? |
| NOT HELD ORDER | MARKET ORDER IN WHICH FLOOR TRADER HAS DISCRETION TO TO EXECUTE WHEN FEELS ITS BEST |
| OPENING OR CLOSE | MARKET ORDERS PUT IN WHEN? |
| 3:40 UNLESS ORDER IMBALANCE | MARKET ON CLOSE CAN'T BE ENTERED AFTER? |
| LIMIT ORDER | WANT TO BUY AT A SPECIFIC PRICE OR BETTER - WHAT TYPE OF ORDER |
| STOP ORDER | ACTIVATED WHEN STOCK TRADES AT OR THROUGH PRICE |
| STOP LIMIT | ACTIVATED WHEN THE STOCK TRADES AT OR THROUGH PRICE- UPON ACTIVATION, THE ORDER BECOMES A LIMIT ORDER. |
| BLISS | PLACED BELOW MARKET - REDUCED BY SPECIALIST PRIOR TO MARKET OPENING ON EX DATE FOR CASH DIVIDEND |
| HIGHEST BID, LOWEST ASK | INSIDE MARKET |
| TOTAL VALUE DIVIDED BY # SHARES | VOLUME WEIGHTED AVERAGE COMPUTATION |
| OATS | ORDER AUDIT TRAIL - INFO FROM ACT, ETC. TIME SEQUENCED RECORD OF ORDERS AND TRANSACTIONS FROM RECEIPT TO EXECUTION. NASDAQ LISTED EQUITY SECURITIES AND OTC EQUITY (NON-NASDAQ)HOUR MINUTE SECOND - MADE DAILY TO FINRA |
| 2ND MARKET | OTC UNLISTED, NASDAQ |
| TRACE - REPORTED IN 15 MINUTES OF EXECUTION (BOTH SIDES REPORT) | TRADE REPORTING FOR OTC SECONDARY MARKET TRANSACTIONS IN CORPORATE BONDS. REPORTED TO INVESTING PUBLIC FOR MARKET TRANSPARENCY. TRACE ELIGIBLE - DEBT OF FOREIGN CO'S, CMO'S, MM, CONVERTIBLE CORP. BONDS. REPORTED IN HOW MANY MINUTES? |
| MUNI BONDS | WHAT BONDS ARE NOT TRACE ELIGIBLE? |
| 8-630. IF TRADE EFFECTED WITHIN 15 MINUTES OF CLOSE, CAN BE REPORTED NEXT DAY WITHIN 15 MIN OF OPENING. | HOURS TRACE IS OPEN? |
| FINRA | WHO REGULATES TRADING OF OTC NONEXMEPT SECURITIES? |
| SECOND MARKET | OTC - INTERDEALER, UNLISTED (NOT ON EXCHANGE)SECURITIES NON NASDAQ OTCBB OVER THE COUNTER BULLETIN BOARD |
| THIRD MARKET | OTC LISTED OR NASDAQ - EXCHANGE LISTED SECURITIES |
| 90 SECONDS OF EXECUTION | CONSOLIDATED TAPE - REPORTED WITHIN HOW LONG? |
| FOURTH MARKET | INSTITUTIONAL INVESTORS - LARGE BLOCKS OF STOCK TRADED - TAKE PLACE THROUGH ECN'S ELECTRONIC COMMUNICATIONS NETWORKS |
| 930-4 EST | TRADING HOURS - NYSE |
| DELINQUENT ON FILINGS | "E" ON BULLETIN BOARD MEANS? |
| LATE FILING | "Z" ON BULLETIN BOARD MEANS? |
| WEEKLY | PINK SHEETS PUBLISHED HOW OFTEN? |
| CQS (CONSOLIDATED QUOTE SYSTEM) | PROVIDES QUOTES FROM BOTH BOTH 3RD MARKET MAKERS AND SPECIALISTS. QUOTES AND SIZE FOR EQUITY SECURITIES OPEN 9-630 |
| CONSOLIDATED TAPE | REPORTS LAST SALE INFO ON LISTED SECURITIES. (ITS) ALLOWS SPECIALISTS TO SEND AN ORDER TO ANOTHER EXCHANGE. LINK BETWEEN EXCHANGE MARKETS AND 3RD MARKET MAKERS.TRADES BETWEEN CQS AND MARKET MAKERS |
| MARKET ORDERS | WHAT ARE NOT ON THE SPECIALIST BOOK? |
| BECOME GTC AND HELD FOR NEXT OPENING DAY | ORDERS PENDING AND NEW ORDERS AT TIME OF MARKETWIDE TRADING HALT CLOSED TILL END OF DAY - WHAT HAPPENS? |
| CANCELED. | DURING A HALT WHAT HAPPENS TO AT CLOSE ORDERS |
| LOCATE REQUIREMENT | WHAT IS SHO? |
| LIMIT ORDER RULE (MANNING II) | FIRM HOLDING LIMIT ORDER CANNOT TRADE FOR ITS OWN ACCT AT SAME PRICE OR TRADE AHEAD. GTC NOT PROTECTED (RULE IS FOR 930-630, NOT 24 HOURS A DAY. |
| FRONT RUNNING | IF PERSON HAS NONPUBLIC KNOWLEDGE OR IMPENDING BLOCK ORDER AND PLACES ORDER IN FRONT TO OF BLOCK ORDER |
| TRADING AHEAD | PROHIBITED - ALWAYS CONCERNS RESEARCH REPORTS |
| WHEN PROVIDES BETTER EXECUTION | WHEN IS INTER POSITIONING (PLACE 3RD PARTY IN BETWEEN) OK |
| MARKING THE CLOSE | ENTERING ORDERS OR FALSE REPORTING TO EFFECT CLOSING PRICE |
| PAINT TAPE | ILLUSION OF HIGH TRADING VOLUME BY BUYING AND SELLING SAME STOCK |
| NONEXEMPT SECURITIES IN OTC AND EXCHANGE MARKETS. NOT MUNI BONDS OR PROSPECTUS OFFERINGS. | 5% POLICY APPLIES TO? |
| INSIDE MARKET AT TIME OF SALE | ACTIVE COMPETITIVE MARKET - PREVAILING PRICE IS? |
| PROCEEDS TRANSACTION | CUSTOMER ENTERS ORDER TO SELL AND INSTRUCTS REP TO BUY WITH PROCEEDS. SINGLE TRADE FOR MARKUP PURPOSES. DETERMINE COMPENSATION ON BOTH SIDES - ADD TWO AND APPLY TOTAL TO INSIDE MARKET ON BUY SIDE (SECOND TRADE). |
| INACTIVE | CONTEMPORANEOUS |
| NASDAQ STOCK MARKET, 3RD MARKET, BULLETIN BOARD, PINK SHEETS. | FINRA CAN INITIATE TRADING HALTS (BECAUSE OF NEWS RELEASES)ON? |
| 10 DAYS | SEC CAN SUSPEND TRADING IN ANY SECURITY FOR HOW LOG? |
| 90 DAYS | SEC SUSPEND TRADING ON EXCHANGES FOR HOW LONG? |
| MANAGED ACCOUNT | WRAP FEE - VARIETY OF SERVICES |
| CORPORATE BONDS, MOST CORPORATE DEBT IMPROVED MARKET TRANSPARENCY FOR PUBLIC. | TRACE - TRADE REPORTING AND COMPLIANCE SYSTEM - OTC SECURITIES REPORTING SYSTEM FOR WHAT SECURITIES? |
| MARGINABLE | SECURITIES THAT CAN BE USED AS COLLATERAL IN A MARGIN ACCOUNT |
| MARGIN | AMT OF EQUITY THAT MUST BE DEPOSITED TO BUY SECURITIES IN A MARGIN ACCT |
| RULE 612 | MINIMUM INCREMENTS. SUB PENNY PRICING ALLOWED FOR STOCKS UNDER 1.00 |
| RULE 611 | PROHIBITS TRADER THROUGH - BETTER PRICE ELSEWHERE |
| RULE 605 | MONTH REPORTS |
| RULE 606 | QUARTERLY REPORTS - ORDER ROUTING SYSTEM & PAYMENT FOR ORDER FLOW |
| UNREGISTERED SHARES | RULE 144 |
| FREELY SELL AFTER 6 MONTHS | RULE 144 NON-AFFILIATE |
| SELL AFTER 6 MONTHS, MUST FILE 144, VOLUME RESTRICTIONS | RULE 144 AFFILIATES (CONTROL PERSONS, 10% EQUITY HOLDERS, OFFICERS, DIRECTORS |
| CONCURRENT OR PRIOR TO SALES, GOOD FOR 90 DAYS | WHEN FILE 144 - AFFILIATE UNREGISTERED SECURITIES? GOOD FOR HOW LONG? |
| 500 SHARES, 50,000 OR LESS | RULE 144 AFFILIATE UNREGISTERED SHARES - 90 DAYS IF SMALL AMOUNT- DON'T NEED TO FILE 144 IF SELL HOW MUCH? |
| 1% OF ISSUER'S TOTAL SHARES OUTSTANDING OR WEEKLY AVERAGE OF PRIOR 4 WEEKS TRADING VOLUME | RULE 144 MAXIMUM VOLUME AMOUNT IN 90 DAY PERIOD |
| CUSTOMER EXPRESSED INTEREST IN LAST 10 DAYS, MEMBER LAST 60 DAYS. THEN THEY ARE NOT SUBJECT BECAUSE THIS REGISTERS THE STOCK. GIFT TO CHARITY WAIT OUT HOLDING PERIOD, HELD BY AN ESTATE, NO RESTRICTIONS | SELLING UNREGISTERED SHARES - CANNOT SOLICIT BUYERS FOR 144 STOCK UNLESS: |
| PROVIDES EXEMPTION FOR SECONDARY MARKET TRADING OF UNREGISTERED SECURITIES AMONG QIB'S (QUALIFIED INSTITUTIONAL BUYERS) | RULE 144A |
| 100 MILLION OR MORE. MEMBERS ARE IF VALUE AT 10 MILLION | QIB'S (QUALIFIED INSTITUTIONAL BUYERS)- IS AN INSTITUTION (INV. CO., PENSION FUND, INSURANCE CO, ETC. WHO HAS WHAT PORTFOLIO VALUE OF WHAT? AND MEMBERS VALUE? |
| ACT | |
| DESIGNATED REPORTING MEMBER MARKET MAKER) | DRM |
| NON DIRECTED | LIABILITY ORDER (MARKET MAKER OBLIGATED TO RESPOND TO UNDER FIRM QUOTE RULE) - PARTY ENTERING THE ORDER DOES NOT IDENTIFY SPECIFIC PARTY PARTY TO EXECUTE TO OR AGAINST |
| DIRECTED ORDER | ACCESS SPECIFIC QUOTE OR ORDER DISPLAYED IN NASDAQ. MARKET MAKER NOT OBLIGATED, MAY DO IN WHOLE OR PART OR DECLINE SINCE 100 SHARES GREATER THAN DISPLAYED. RESPOND IN 5 SECONDS |
| 100 SHARES GREATER THAN QUOTE BEING ACCESSED (DIRECTED ORDERS) | ALL OR NONE AND MAQ(MINIMUM ACCEPTABLE QUANTITY) - SHARE SIZE? |
| PREFERENCE ORDERS - MUST BE INSIDE MARKET OR RETURNED TO FIRM | FIRM HAS SPECIFIC PARTY SENT TO OR AGAINST |
| ACT | TRANSACTIONS ARE REPORTED TO FOR CLEARANCE AND SETTLEMENT PURPOSES. |
| 90 SECONDS OR THEY ARE LATE - .SLD (LAE) | ACT TRANSACTIONS MUST BE REPORTED WITHIN HOW LONG? |
| 8-8 | ACT HOURS |
| TRACS | REPORTS ADF REPORTING OF UNLINKED ECNS |
| ECN'S - NO EXCHANGE TRADED FUNDS | ADF CREATED FOR WHAT? |
| 500 | BULLETIN BOARD MUST BE WILLING TO BUY HOW MANY SHARES FOR $1.01-$10.00 BID OR OFFERS |
| 200 | BULLETIN BOARD MUST BE WILLING TO BUY HOW MANY SHARES FOR $10.01-$100 BID OR OFFERS |
| 500,000 - LONG POSITION | BLOCK ORDERS RULE 97 - HOLDING ANY PART OF A LONG POSITION - BLOCK IS DEFINED AS? |
| 200,000 - PROBE DEPTH OF MARKET - CLEAN UP PRICE | BLOCK ORDERS RULE 127 - LIMITATIONS DUE TO BLACK TRADING - GIVE ACCESS TO CROWD - CHECK MARKET DEPTH AND IF MM INTERESTED. THIS BLOCK IS DEFINED AS HAVING VALUE OF? |
| PROPRIETARY | HOLS SECURITIES FOR OWN ACCOUNT |
| 930-4. MAY VOLUNTARILY OPEN FROM 8-930 ET OR 4PM-630PM ET | ADF TRADING HOURS (ALTERNATIVE DISPLAY) * - DISPLAYS QUOTES FOR UNLINKED ECN'S |
| 15TH AND LAST DAY, BY 6PM, 2 DAYS AFTER | SHORT INTEREST REPORTING, NEEDS TO BE REPORTED WHEN? |
| LIMIT ORDER RULE (MANNING II) | MEMBER CANNOT TRADE AHEAD OF CUSTOMER IF TRADER AHEAD MUST GIVE CUSTOMER BETTER RICE. |
| $1 MILLION, PUBLIC FLOAT OF $150 MILLION - NO RESTRICTION | REG M - MARKET AKERS CAN AFFECT OFFERING PRICE IN ADDITIONAL ISSUE OFFERINGS - Actively Traded Security has ADTV of? RESTRICTION? |
| 1 DAY | ADTV OF $100,000 AND PUBLIC FLOAT 25 MILLION - RESTRICTED PERIOD? |
| 5 DAYS | ADTV NOT AT TIER ONE AND TWO, RESTRICTED PERIOD? |
| LOOKS AT FAIRNESS OF UNDERWRITING COMPENSATION!!! | CFD - CORPORATE FINANCING DEPT - DOES WHAT? |
| NOT INVOLVED IN FIRST TRANSACTION OF THE DAY OR LAST 30 MINUTES OF TRADING. CANNOT EXCEED 25% ADTV OVER LAST 4 WEEKS. BLOCK PURCHASES COUNT TOO. | ISSUER WANTS TO BUY BACK OWN SHARES WHEN IS SAFE HARBOR AND HOW MUCH CAN HE BUY? |
| INSTRASTATE!!! SOLD IN STATE! | 147 OFFERING |
| Clearing firm | July 31st each year provide exception report |
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