Rule 104

Rule 104

On the New York Stock Exchange, a rule requiring designated market makers to trade on their own accounts to help ensure a fair and orderly market. The rule also outlines other rights and responsibilities for designated market makers; for example, they must help the NYSE remain sufficiently liquid to provide for fair quotes. Previously, Rule 104 mandated that designated market makers (then known as specialists) not trade on their own accounts, but this was amended in 2008 as part of a wider streamlining of NYSE rules.

Rule 104

A New York Stock Exchange rule that prohibits specialists from trading for their own accounts except when such trades are necessary to maintain a fair and orderly market.
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They have charged Farrell under Rule 104 which states the club executive must be responsible for the safe-keeping of silverware at all times.
It is expected that the appeal will be based around the contentious rule 104 which failed Carlow last week.
A Tipp appeal would be based on Rule 104 which states that a referee cannot make an award of a game.
The decision by the Management Committee, which is chaired by GAA president Joe McDonagh, was based on a misapplication of Rule 104 by the Leinster Council.
In a terse statement GAA PRO Danny Lynch outlined the decision: "Management have decided to uphold the appeal on the grounds that there was a misapplication of rule 104 in not awarding the game in accordance with the referee's report.
Rule 104 gives committees certain leniency but the events of Dr Cullen Park did not come under that clause, Management effectively ruled.
Carlow, whose objection was based around rule 104, cannot now come back with a counter appeal.