What does it mean when a market center declares “Self Help” against one or more other exchanges and/or market center?
“Self – help” is a term that is more or less a by product of the implementation of Regulation NMS, which went into effect in March of 2007. Essentially, Reg NMS requires exchanges and market centers to route out received orders to the market that shows the best price. Among other things, Reg NMS is designed to ensure fast and best execution of trades and to protect a best price quote from being bypassed because it is displayed by competing center.
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