| Give
Up |
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Used to describe a securities transaction between three brokers where
one "gives up" or excludes their name in the transaction.
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Pay
close attention, here's how it works. Broker X gets a buy order but
is too busy to complete the trade, so he gives the order to Floor
Broker Y who isn't as busy. Broker Y then buys the stock from Broker
Z on behalf of Broker A's client. But Broker A "gives up"
his name on the transaction thus the transaction is recorded as if
Y & Z made the trade even though the client is Broker A's.
A bit confusing.... |
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Dictionary
