passing the book

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

passing the book

Used to refer to the transfer of information on a firm's trading position from one office to another. For example, a New York brokerage firm may pass the book at the end of the trading day to an office in Los Angeles or Tokyo.
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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