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pickup definition - finance
Extra value that is gained when bonds are swapped by traders. For instance, when bonds with the same coupon payment and maturities are swapped, or exchanged, one bond may be more valuable because of a difference in credit quality; this results in a pickup on the transaction for the trader ending up with the higher-quality bond.

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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