a
state that exists when the NBBO price for a security matches either its upper
or lower limit points, which are set at a percentage above and below the
security’s reference price. If a limit state continues for 15 seconds, a
5-minute trading pause is triggered.
Series 24: Limit State
Taken from our Series 24 - FINRA General Principal Qualification Examination
Definition of the term Limit State...
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