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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
The Supreme Court had held previously that Iowa workers' compensation carriers can be held liable in bad faith actions because state statues place an "affirmative obligation" on insurance carriers to act reasonably.
When you impose an affirmative obligation on the state to provide for the satisfaction of its citizens' material needs and make that obligation justiciable, you end up taking power away from the people and give it to a group of unelected judges who can veto the collective will of the people.
The court rejected the plaintiff's argument that the statute codifies an affirmative obligation on employers to take steps to determine accommodation, including consultation with the employee and documenting its good faith efforts.
The New York Constitution places an affirmative obligation on the State to provide for the health and welfare of everyone within our borders and ensure that the due process rights of all inhabitants are protected.
An insurance company has an affirmative obligation to provide written notice of a disclaimer of coverage as soon as is reasonably possible, even where the policyholder's own notice of claim to the insurer is untimely (see Insurance Law [section] 3420[d]; Hartford Ins.
With the new legislative package, the FMSA has placed an affirmative obligation on financial institutions to report AML activities, including designation and placement of the offending party on the FMSA website as a "designated person." As a result of this designation, the FMSA, through the relevant government ministries, will be able to freeze the assets of the named individual/entity.
The new rules put the affirmative obligation on the advisor to be prepared to defend his or her compensation as reasonable or risk losing the Best Interest [Contract] Exemption.
Aside from the Constitution, the petition added that Comelec also disregarded basic international law provisions on citizenship as well as the applicable international human rights instruments ratified by the Philippines that created an affirmative obligation to consider foundlings as natural-born citizens of the country.
There is no imminent danger it creates and no provider has an affirmative obligation to monitor and make determinations about the theoretically harmful nature of speech a site may contain." He also added, "We have never received a request to terminate the site in question from any law enforcement authority, let alone a valid order from a court."
These laws make clear that "equal access" does not mean "the same" access--criminal justice professionals have an affirmative obligation under these laws to guarantee that deaf people receive effective communication.
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.

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