• In stock trading, a commitment by the market maker to find the highest price for a seller's shares, or the lowest price for a buyer, that is available in any market at that time.
• The centerpiece of a complex new rule that the Securities and Exchange Commission is considering imposing on all stock markets at its Dec. 15 meeting.
• An extension and modification of the SEC's current "trade through" rule, which now channels significant trading volume to the New York Stock Exchange.
• A step that would give buyers and sellers simultaneous electronic access to all U.S. markets trading a particular stock.
• A rule that could require market makers to post all bid and asked prices, making markets more transparent and liquid.
• A compromise that would allow institutional investors to complete trades more quickly but make it harder for them to camouflage their trading strategies.
-- S.P.
