The smallest quantity at which a normal market maker is allowed to quote at for a SEAQ security. It is defined as 1 W the normal market size ( NMS) of the stock. For example, if a stock has a NMS of 25,000, a market maker registered in the stock must be prepared to deal in at least 25,000 shares. Dresdner Kleinwort Wasserstein financial glossary
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On the London Stock Exchange, the minimum number of shares in which market-makers are obliged to display prices on SEAQ for securities in which they are registered. Exchange Handbook Glossary
Financial and business terms. 2012.