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Manning Rule
The term Manning rule is the informal name for a financial industry rule in the United States: Financial Industry Regulatory Authority (FINRA) regulation, Rule 5320. It prohibits a FINRA member firm from placing the firm's interest before/above the financial interests of a client. For example, when a securities firm is holding a customer limit order (an instruction to buy or sell securities at a certain price), the firm cannot ignore that order and cannot trade for their account using a price that would satisfy the customer's limit order without executing the customer limit order. The rule is applicable both in normal trading hours and in the extended hours trading sessions. History of the term The rule is named after William Manning, a co-founder of Manning & Napier Manning & Napier is an investment firm based in Fairport, New York with $20 billion in assets under management. It was traded on NYSE as MN. It has approximately 300 employees as of December 2019. The company was f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. The U.S. government agency that acts as the ultimate regulator of the U.S. securities industry, including FINRA, is the U.S. Securities and Exchange Commission (SEC). Overview The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect investors by making sure the United States securities industry operates fairly and honestly. In December 2019, FINRA oversaw 3,517 brokerage firms, 153,907 branch offices and approximately 624,674 registered securities representatives. FINRA has appr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limit Order
An order is an instruction to buy or sell on a trading venue such as a stock market, bond market, commodity market, financial derivative market or cryptocurrency exchange. These instructions can be simple or complicated, and can be sent to either a broker or directly to a trading venue via direct market access. There are some standard instructions for such orders. Market order A market order is a buy or sell order to be executed immediately at the ''current'' ''market'' prices. As long as there are willing sellers and buyers, market orders are filled. Market orders are used when certainty of execution is a priority over the price of execution. A market order is the simplest of the order types. This order type does not allow any control over the price received. The order is filled at the best price available at the relevant time. In fast-moving markets, the price paid or received may be quite different from the last price quoted before the order was entered. A market order may be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extended Hours Trading
Extended-hours trading (or electronic trading hours, ETH) is stock trading that happens either before or after the trading day of a stock exchange, i.e., pre-market trading or after-hours trading. After-hours trading is the name for buying and selling of securities when the major markets are closed. Since 1985, the regular trading hours for major exchanges in the United States, such as the New York Stock Exchange and the Nasdaq stock market, have been from 9:30 a.m. to 4:00 p.m. Eastern Time (ET). Pre-market trading occurs from 4:00 a.m. to 9:30 a.m. ET, although the majority of the volume and liquidity come to the pre-market at 8:00AM ET. After-hours trading on a day with a normal session occurs from 4:00 p.m. to 8:00 p.m. ET. Market makers and specialists generally do not participate in after-hours trading, which can limit liquidity. Trading outside regular hours is not a new phenomenon but used to be limited to high-net-worth investors and in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Manning (businessman)
William Manning may refer to: * William Manning (author) (1747–1814), New England farmer, foot soldier and author of ''The Key of Libberty'' * William Manning (Unitarian) (c. 1630–1711), English ejected minister and Unitarian writer *William Manning (British politician) (1763–1835), British merchant and politician *William Montagu Manning (1811–1895), Australian politician *William Patrick Manning (1845–1915), Australian politician *Sir William Manning (colonial administrator) (1863–1932), British soldier and colonial administrator *William T. Manning (1866–1949), American Episcopal bishop * William Manning (bishop) (fl. 1945–1984), Anglican bishop in Africa * William Oke Manning (1879–1958), British aerospace engineer *William Manning (Australian politician) (1903–1986), member of the Legislative Assembly of Western Australia *Bill Manning, American sports executive, currently the President of Toronto FC and the Toronto Argonauts The Toronto Argonauts (offici ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manning & Napier
Manning & Napier is an investment firm based in Fairport, New York with $20 billion in assets under management. It was traded on NYSE as MN. It has approximately 300 employees as of December 2019. The company was founded in 1970 by William Manning and William J. Napier. After the 1973 discovery of large-scale insurance fraud at Equity Funding, Manning & Napier and three other advisory companies were censured for insider trading; William Manning had quickly sold the stock after learning of the fraud on March 26, 1973. Manning & Napier had over $20 million in assets under management for nearly 100 clients in March 1973. In April 2020, the company received $6.7 million in federally backed small business loans as part of the Paycheck Protection Program. The company received scrutiny over this loan, which meant to protect smaller businesses and ensure they could continue to pay their employees during the COVID-19 pandemic. The ''New York Times ''The New York Times'' (''the T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investor Protection
An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Types of investments include equity, debt, securities, real estate, infrastructure, currency, commodity, token, derivatives such as put and call options, futures, forwards, etc. This definition makes no distinction between the investors in the primary and secondary markets. That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns stock is a shareholder. Types of investors There are two types of investors: retail investors and institutional investors. Retail investor * Individual investors (including trusts on behalf of individuals, and umbrella companies formed by two or more to pool investment funds) * Angel investors (individuals and groups) * Sweat equity investor Inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |