Rule 13-d
Often used in risk arbitrage. Requirement under Section 13-d of the Securities
Act of 1934 in which a form must be filed within ten business days of acquiring
direct or beneficial ownership of 5% or more of any class of equity securities in a
publicly held corporation. In addition to filing with the S.E.C., The purchaser of
such stock must also file the 13-d with the stock exchange on which the shares
are listed (if any) and the target company itself. Required information includes the
way the shares were acquired, the purchasers background, and future plans
regarding the target company. The law is designed to protect against insidious
takeover attempts and to keep the investing public aware of information that
could affect the price of their stock. See: Williams Act.
Rule 144
Used in the context of general equities. Restricts solicitation of buyers to
complete the sell order of an insider (unless the firm is already a buyer); signified
by a flashing E on Quotron.
Rule 144a
S.E.C. rule allowing qualified institutional buyers to buy and trade unregistered
securities.
Rule 14-d
Often used in risk arbitrage. Tender offers regulations and restrictions covering
public tender offers and related disclosure requirements.
Rule 415
Used in the context of general equities. Permits corporations to file a registration
for securities they intend to issue in the future when market conditions are
favorable. See: shelf registration.
Run
A run consists of a series of bid and offer quotes for different securities or
maturities. Dealers give to and ask for runs from each other.
Runoff
Used for listed equity securities. Series of trades printed on the ticker tape that
occur on the N.Y.S.E. before 4:00 p.m., but are not reported until afterwards due
to heavy trading and hence the late tape.
