last sale rule

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Last Sale Rule

A rule stating that an investor has the right to inquire about all relevant information regarding the last sale of a security. Specifically, the investor may inquire on the sale price, among other things. The last sale rule gives the investor access to more information than simply the current bid-ask spread.

last sale rule

A National Association of Securities Dealers rule that permits investors to obtain information other than just the bid and ask on an actual trade.