Limit Order Rule Modified
Traders Magazine, November 2001
Market makers, prevented from stepping in front of customer orders on the OTC Bulletin Board, have seen that restriction eased under a rule modificaton introduced by the SEC. However, the change in the limit order rule, which will stay in place on a trial basis until February, has received a mixed reception. Under the change, if a customer order price is outside the bid-offer spread in a stock, market makers can price improve' and step ahead of the order.
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