Backing Away
Barron's Finance & Investment Dictionary:
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Backing Away
broker-dealer’s failure, as market maker in a given security, to make good on a bid for the minimum quantity. This practice is considered unethical under the rules of fair practice of the financial industry regulatory authority (finra).
| Backdating, Back-Testing | |
| Backlog, Backup Line |
Investopedia Financial Dictionary:
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Backing Away
The act of a market maker failing to honor a posted bid or ask even though the price and quantity are valid.
Investopedia Says:
The NASD does not condone the act of backing away from transactions and will take disciplinary action if certain regulations are broken. For example, if a market maker backs away from transactions near the end of a trading day, he or she is violating NASD regulations.
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Barron's Finance & Investment Dictionary
Dictionary of Finance and Investment Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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