The period of time during which underwriters take orders for a new issue of a security. Before a new issue, underwriters canvass potential investors, who may or may not book an order to buy a portion the new issue. The level of interest during the order period may be an indicator of demand once the security is actually issued.
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The period of time during which syndicate members take orders for a new security issue.
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.