Self-Help Declarations Under Reg NMS Rule 611
Self-help declarations let one venue route around another's broken quote under Reg NMS. What changes for ISOs, and why the tape can print an impossible NBBO.
#market-mechanics
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Mass Cancels and Purge Ports Explained
How fast can a market maker pull every quote? Inside mass cancel messages, dedicated purge ports, cancel on disconnect, and the gateway queue in the way.
Due Bills and Stock Splits: Ex-Date Timing
Why a stock split's ex-date lands after the payable date, what a due bill is, who tracks it, and the full timeline from record date to first adjusted session.