Also found in: Dictionary, Medical, Acronyms, Encyclopedia, Wikipedia.
Related to don't know: don't know what to do
Don't know (DK, DKed)
"Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. Also, an unscrupulous claim made by one party denying that the trade had been agreed to and made after the trade goes adversely against that party.
Describing a trade that cannot be settled by a clearing house because the counterparties have contradictory or otherwise inconsistent information on the trade. The clearing house may become aware of the discrepancy by reviewing the comps the brokers gave one another, or by some other method. In this trade, it is said that one or both of the counterparties "does not know the trade."
don't know (DK)
A broker-dealer response to a transaction report when the facts of the trade are in doubt or are unknown.