Negative obligation

Negative obligation

A New York Stock Exchange rule that governs the behavior of specialists. Negative obligation is the mandate of the specialists not trade for the specialist's firm's own account when enough public investor orders exist to match up naturally -- without intervention. An example of violating negative obligation is Trading Ahead. Also see positive obligation.

Negative Obligation

New York Stock Exchange requirements on its specialists. The negative obligation forbids specialists from trading on their own accounts when enough matching orders exist to ensure a two-sided market. That is, when investors do not need a specialist to provide liquidity to the market, the negative obligation prohibits the specialist from trading on its own account. See also: Positive obligation.
References in periodicals archive ?
There is at least a good practice obligation that it is raising, it may crystallise into a legal obligation as well, to say to states that in the same way that you have this negative obligation not to assist with the death penalty in other countries, you must also try to level the playing field for your citizens when they are facing the death penalty in another country," the Special Rapporteur added.
2 "generally imposes a negative obligation on government rather than a positive obligation of protection or assistance.
Indeed, it seems Denmark was similar]y free of any negative obligation to refrain from handing him over to the police.
254) As with the Israeli Wall Opinion and the Alejandre case, the word employed by the court implies a context of violation of a negative obligation.
The complaint alleges that Van der Moolen, during the class period, repeatedly violated its duty of negative obligation, or the duty to hang back and not trade for the specialist firm's own account when public investor orders exist.
Depending on their object, there are positive and negative obligations, but they are also classified in obligations of giving, doing or not doing, all of which will be analyzed below.
Regarding the negative obligations of not doing, they generate no discussion whatsoever, meaning that any performance of this type is liable of execution against the will of the creditor since he cannot fight in any way against its execution.
Human Rights in a Positive State: Rethinking the Relationship Between Positive and Negative Obligations Under the European Convention on Human Rights
The club will also have a number of negative obligations which will usually be subject to the consent of the player.
The remark of the refuge State's negative obligations is evident also in the Iosub Caras v.
So we have negative obligations that are enforceable.
rules imposing positive and negative obligations in the public interest;