Uniform Practice Code


Also found in: Acronyms.

Uniform practice code

Standards of the NASD prescribing procedures for handling over-the-counter securities transactions, such as delivery, settlement date, and ex-dividend date.

Uniform Practice Code

A code issued by FINRA governing over-the-counter transactions. The Uniform Practice Code mandates certain things, such as the number of days after the trade date that settlement must take place. It is intended to increase certainty in the over-the-counter market and thereby reduce risk.

Uniform Practice Code

A set of standards for use by members of the National Association of Securities Dealers when settling securities transactions. The Code covers technical items such as the ways by which interest is computed and the times at which settlements are to occur.
References in periodicals archive ?
Pursuant to the Uniform Practice Code of the NASD, the shares of the Trust will go "Ex-Dividend" on May 19, 1994, at which time the quotation for the Trust's shares on the NASDAQ market system will be reduced by the amount of the full dividend.

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