under the rule
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English[edit]
Prepositional phrase[edit]
- (finance) Of a deal: concluded by the secretary of the stock exchange when the actual dealer has failed to do so.
- 1908, New York Produce Exchange, Report, page 349:
- No party shall be permitted to supply offers to buy or sell Securities closed for his account “under the rule.”
- 1931, Charles Harrison Meyer, The law of stockbrokers and stock exchanges, and of commodity brokers and commodity exchanges:
- A contract which has not been fulfilled according to the terms thereof may be officially closed “under the rule” by the Secretary, or by a member of the Committee on Arrangements, as herein provided.