Pass the book(redirected from Passes the Book)
Pass the book
The process of transferring responsibility for a brokerage firm's trading account from one office to another around the world in order to benefit from trading 24 hours a day.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Pass the Book
In a brokerage, to transfer orders from one office to another office. Passing the book enables a brokerage to continue trading when one exchange closes by simply going to an office that operates on an exchange that is still open. Ideally, this will enable trading 24 hours per day.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved