Affirmative obligation

Affirmative obligation

A New York Stock Exchange rule that governs the behavior of specialists. Affirmative obligation is the mandate of the specialists to step in and act as either the buyer or the seller when public investor orders exist do not match up naturally. Also known as positive_obligation. Related: negative_obligation.

Affirmative Obligation

Financial Industry Regulatory Authority requirements on NASDAQ market makers. Affirmative obligations include but are not limited to ensuring a two-sided market always exists, reporting price and trading volume within 90 seconds of each transaction, and participating in the Small Order Execution System. It should not be confused with an affirmative covenant.
References in periodicals archive ?
It is, Bolick says, arguable that the Guarantee Clause is inapplicable in the Arizona case because the clause is ''an affirmative obligation on the national government rather than a restriction on the states.
ABA believes that the National Credit Union Administration has an affirmative obligation to limit this type of expansion," wrote ABA Senior Economist Keith Leggett in the letter to the agency.
Directors have an affirmative obligation to protect and advance the interests of the corporation and to absolutely refrain from engaging in conduct that harms it.
In other words, it is the affirmative obligation of the physician to ensure that no interim harm comes to the patient.
For example, importers now have an affirmative obligation to verify the safety of the food they bring into the United States.
Bush signed the Housing and Community Development Act, which stated that the two GSEs "have an affirmative obligation to facilitate the financing of affordable housing for low-income families.
Tarbert said the Professional Ethics Committee has opined that an attorney has an affirmative obligation, under Rule 4-3.
Ganim (12) with the issue of "whether, under the state constitution, the state of Connecticut has an affirmative obligation to provide its indigent residents with minimal subsistence.
Pharmacists are technicians, not professionals who are self-regulating, and normally they have an affirmative obligation to take the "orders" of their clients.
Thus, the FVM was the preferred method, yet P was under no affirmative obligation to elect it.
Under Miranda rules, police who question criminal suspects have an affirmative obligation to notify them of their right to remain silent and to have attorney representation.
or Canadian tax authorities in designing legislation and regulations, they have acted with the firm belief that it is their affirmative obligation to do so.

Full browser ?