A bucket shop took customers' orders and never sent them to a market, betting against the customer instead. Bucket shops were outlawed in the early twentieth century, and the prohibition is a direct ancestor of the rule that a displayed order must be real.
history and doctrine · updated 2026-09-08
See also
Bona fide order— A bona fide order is one placed with a genuine intention to trade if the market reaches it. The concept does most of the work in s…
Boiler room— A boiler room is a high-pressure sales operation, historically telephone-based, that sells securities using scripted misrepresenta…