An SEC rule stating that stock listed on a given exchange after April 26, 1979 may be traded off the physical confines of the exchange. These stocks are eligible for over-the-counter trading. The rule was adopted as part of a move toward an experimental National Market System. See also: 19c-3 stock.
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An SEC rule that permits exchange member firms to trade stock listed after April 26, 1979, off the exchange. Rule 19c-3, which became effective in 1980, is intended to promote competition among market makers. See also 19c-3 stock.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.