The practice of one brokerage executing an order on behalf of a client but giving credit (and part of the commission) to another brokerage. This is often a gesture when the second brokerage has assisted the first in some way, especially by helping with research and analysis.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A brokerage firm execution in which credit for the trade is given to another firm.
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.