I. ˈ ̷ ̷ˌ ̷ ̷ noun
( -s )
Etymology: give up
: a transaction on an exchange in which the broker reveals the name of his principal who is under obligation to complete the transaction
II. noun
Etymology: give up ; from the giving up by the first broker of part of the commission to the second
1. : a security or commodity market order which one broker executes for a client of a second broker for a share of the commission
2. : a part of a commission due a broker from a major client (as a mutual fund) that the client directs to be turned over to another broker who has provided special services