nine bond rule

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.

nine bond rule

A requirement of the New York Stock Exchange that members' customer orders for nine or fewer bonds be sent to the trading floor in an attempt to secure an execution. Although the rule does not guarantee execution, it at least permits small orders temporary exposure to the marketplace. Also called Rule 396.
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