Sub-penny Rule

Sub-penny Rule

Definition

[Rule 612 of Regulation NMS] Rule adopted by the Securities and Exchange Commission that prohibits market participants from displaying, ranking, or accepting quotations or orders in any stock priced in an increment smaller than a penny if the quotation or order is equal to or greater than one dollar per share or smaller than $0.0001 if the quotation or order is less than one dollar per share.

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