give-up


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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.

give-up

1. A prohibited practice in which a large investor would direct that a portion of the commission charged in a security trade be handed over to another broker. Give-ups were popular when commission rates were fixed and when large trades produced artificially high commissions that were transferrable to firms that provided the investor with valuable services such as research information.
2. The reduction in yield when a bond position is swapped for bonds with a lower coupon.
References in periodicals archive ?
However, this may very well be due to the fact that give-ups are still included in Table 4.
There is almost no difference if give-ups are excluded.
Focusing on the subsample without give-ups does not affect the results.
In New York, arrests for owner give-ups have soared 25 percent in 2008 compared to the previous year, according to the state's insurance department.
Fraud investigators noticed a spike in suspected auto give-ups this past summer, though firm statistics still are being compiled," says John Butchko, special assistant with the state attorney general's office.
I'm sure more give-ups are coming," says Michelle Brugh, head of Ohio's Insurance Fraud Bureau.
In California, the state fraud bureau reported that insurers referred 40 percent more suspected give-ups to the state's insurance department during the 2008 fiscal year--which ended June 30, 2008--than the previous year.
Vehicle give-ups also have decreased slightly, according to the state fraud division's Maj.
Utah's Fraud Bureau, which normally has a caseload of one or two suspected give-ups, is now investigating 30 cases, said Joe Christensen, head of the state fraud bureau.
It normally investigates a few suspected give-ups each year but logged 18 cases in July and August this past year, including three arsons, according to Cory Cox, director of the unit.
The onExchange systems enable traders, clearing members and back-offices to manage all trading activity in a single system, including seeing live P&L and risk updates, manage credit and trading permissions in real-time, handle real-time give-ups, allocations and notices.