The rules established by an exchange or securities association which establish proper methods and procedures for transactions between members.
Standards of the NASD prescribing procedures for handling over-the-counter securities transactions, such as delivery, settlement date, and ex-dividend date.
Rules and procedures established by the National Association of Securities Dealers (NASD) to regulate operational details of executing, clearing, and settling over the counter transactions in non-exempt securities. Also, within the 13 districts of the NASD, the Uniform Practice Committees settle disputes at the local level and interpret the Uniform Practice Code. See: National Association Of Securities Dealers; Over The Counter