Give up


Also found in: Dictionary, Thesaurus, Idioms, Wikipedia.

Give up

Used for listed equity securities. (1) Term used in a securities transaction involving three brokers, as follows: Broker A, a floor broker, executes a buy order for broker B (a member firm broker who has too much business at the time to execute the order). The broker with whom broker A completes the transaction (the sell-side broker) is broker C. Broker A "gives up" the name of broker B, so that the record shows a transaction between broker B and broker C even though the trade is actually executed between broker A and broker C; (2) distribution of commissions to brokerage houses not participating in a trade. This is a grey area of the law governing reimbursement of a broker for services (e.g., research). See: Directed brokerage.

Give Up

For a broker to execute an order on behalf of another broker. Giving up occurs as a professional courtesy when a broker receives an order from a client that he/she is too busy to execute. It is important to note that the broker who receives the order, rather than the broker who conducts the transaction, is the one who earns the applicable commissions and fees. The term originates from the fact that the broker who executes the transaction must "give up" the commission to other broker.
Mentioned in ?
References in periodicals archive ?
There is more Savva breeding on Never Give Up's distaff side through Whisper Wit (Whisper Wishes-Westmead Kim), whose dam is a half-sister to Phantom Flash's mother.
We appreciate the state and local community support for the new technology and jobs that give UPS flexibility to meet growing needs of our customers.
On the plus side, Roberson said, TNT has a broad South Asian road network, which would certainly give UPS a leg up in the Asian market.