Order Protection Rule

The Order Protection Rule (OPR) is a regulation that was put in place by the Securities and Exchange Commission (SEC) in 2005. The rule is designed to protect investors from the potential for losses that can occur when a stock is halted or suspended from trading.

The OPR requires that all market participants, including exchanges, market makers, and brokers, honor limit orders that are placed at a price that is above or below the current market price. This means that if a stock is halted or suspended from trading, your limit order will still be executed at the price that you specified.

The OPR is an important rule that helps to ensure that investors are not disadvantaged when a stock is halted or suspended from trading. However, it is important to note that the rule does not guarantee that you will always get filled at your limit price. If the market moves significantly between the time that you place your order and the time that it is executed, your order may not be filled at all.

The OPR is just one of many regulations that are designed to protect investors. It is important to be aware of these regulations so that you can make informed decisions about your investments.

Here are some additional details about the Order Protection Rule:

• The rule applies to all stocks that are listed on a national securities exchange.
• The rule does not apply to stocks that are traded over-the-counter (OTC).
• The rule does not apply to orders that are placed on a limit order book that is not part of a national securities exchange.
• The rule does not apply to orders that are placed on a dark pool.

If you have any questions about the Order Protection Rule, you should consult with a financial advisor.