Two factors come into play: First, good quality applicators do a better job of applying paint, and more uniformly, than poor applicators. As a result, they achieve better hide, or coverage. Second, painting technique is a factor that could contribute to overspreading the product.
Liquidation and Free Riding. A liquidation violation occurs when the client sells a security to satisfy a cash obligation for the purchase of a different security after trade date. This is a violation because the sale of the second security will not be settled by the time the first purchase settles.
(a) Duty of Brokerâs Broker. (i) Each dealer acting as a brokerâs broker with respect to the execution of a transaction in municipal securities for or on behalf of another dealer shall make a reasonable effort to obtain a price for the dealer that is fair and reasonable in relation to prevailing market conditions. brokerâs broker may be a separate company or part of a larger company. An alternative trading system, registered as such with the Commission, is not a broker's broker for purposes of this rule if, with respect to its municipal securities activities: