Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. Investopedia Says: This has substantially increased the liquidity of the securities affected because institutions can trade these securities amongst themselves, side-stepping limitations that are imposed to protect the public. Related Terms: Broker-Dealer Institutional Investor Liquidity Qualified Institutional Buyer - QIB Securities & Exchange Commission - SEC |