Definition and Citations:
A situation where a MARKET MAKER refuses to perform on a quoted BID, generally in contravention of formal or informal marketmaking rules conveyed through AFFIRMATIVE OBLIGATIONS.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A situation where a MARKET MAKER refuses to perform on a quoted BID, generally in contravention of formal or informal marketmaking rules conveyed through AFFIRMATIVE OBLIGATIONS.