give up

give up definition - finance
A term used to describe a transaction between three brokers in which one does not use his/her name. For example, a broker receives a buy order that he or she canÂ’t transact. The broker asks a second broker to handle the order. So the second broker buys the stock from a third broker on behalf of the first brokerÂ’s client. The transaction is recorded in the records of the firms and exchange as if the first broker was never involved.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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