exchange distribution

Exchange distribution

A sale on an exchange floor of a large block of stock in a single transaction. A broker bunches a large number of buy orders and sells the block all at once. The broker receives a special commission from the seller.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Exchange Distribution

A trade in which a number of small buy orders are placed together and executed in order to fill a single, very large sell order. An exchange distribution may create the appearance of a single trade (and indeed it is reported as such), but, in fact, it is the result of a streamlining process whereby a broker makes what would have been smaller trades at once. The broker receives a special commission for making an exchange distribution. See also: Block.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

exchange distribution

The sale of a large block of stock on the floor of an exchange in which a member solicits numerous buyers, each of whom takes a portion of the block. All the buy orders are combined, crossed with the orders to sell, and reported as a single trade. An exchange distribution is facilitated by the fact that buyers usually do not have to pay a commission. Compare exchange acquisition.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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