Nine-bond rule

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Nine-bond rule

An NYSE rule requiring that orders for nine bonds or fewer stay on the floor for one hour to seek a market.

Nine-Bond Rule

On the New York Stock Exchange, a rule requiring that members place their customers' orders for nine or fewer bonds on the trading floor for one hour. This may or may not expedite execution, but it exposes small orders to the trading floor, which may extract a better price for the customer. It is also called Rule 396.