2007 Review: FINRA's OTC Compromise
The Year in Trading
Traders Magazine, December 2007
OTC dealers were able to make an effective case that their sub-penny trading was hurt by Manning rules. So the Financial Industry Regulatory Authority tailored its Manning rules on over-the-counter stocks. Manning prohibits front-running, which is trading against incoming orders at prices equal to or less than any contra-side customer limit orders they may be holding.
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