The practice of underwriters persuading brokerage clients to purchase some part of a new issue in return for the purchase by the underwriter of other securities from the clients at a premium . This premium is offset by the underwriting spread . Excessive broker trading in a discretionary account.
OVERTRADING
Meaning of OVERTRADING in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012