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T+3
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See settlement date
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TARSSM
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See Trade Acceptance and Reconciliation ServiceSM
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third market
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Over-the-counter trading of exchange-listed securities among institutional investors and broker/dealers for their own accounts (not as agents for buyers and sellers). Stock exchange members or non-members may trade large blocks of stock off the floor to avoid the transaction's unsettling effect on the market, or avoid paying a commission on the sale. (See dealer market, fourth market, institutional investor, secondary market)
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Third Market Trade Reporting (TMTR)
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Automated data collection and reporting system that continuously reports last-sale prices reflecting trades in the over-the-counter market.
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(The) Nasdaq SmallCap MarketSM
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Securities of smaller, less-capitalized companies that do not qualify for inclusion in the Nasdaq National Market. There are more than 1,300 companies on the SmallCap market.
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(The) Nasdaq Stock MarketSM
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The Nasdaq Stock Market is a major national and international stock market that uses computers and telecommunications for the trading and surveillance of thousands of securities. The Nasdaq Stock Market is built on a unique system of competing Market Maker firms that list specific prices for the sale or purchase of securities. The Nasdaq Stock Market also is unique in its use of a flexible computer-screen trading system that enables people to trade by computer from wherever they are located.
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third-party claim
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A claim by the respondent against a party not already named in the proceeding.
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TMTR
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See Third Market Trade Reporting
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Trade Acceptance and Reconciliation ServiceSM (TARSSM)
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An automated service that facilitates inter- member reconciliation of uncompared trades in Nasdaq securities. (See Municipal Bond Acceptance and Reconciliation Service)
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trading halt
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The suspension of trading in a Nasdaq security while material news from the issuer is being disseminated. A trading halt generally lasts 30 minutes and gives all investors equal opportunity to evaluate news and make buy, sell, or hold decisions on that basis. (See material news)
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transfer agent
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An agent who maintains records of stock and bond owners to cancel and issue certificates, and resolve problems arising from lost, destroyed, or stolen certificates. (See registrar)
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transparent market
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The degree to which trade and quotation information is available to the public on a current basis.
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two-sided market
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Requirement that Market Makers quote both a bid and ask price for each security in which they make a market and to execute orders at those prices.
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