give up
Definition
A term used to describe a transaction between three brokers where one does not use his/her name. For example, Broker 1 receives a buy order that he/she is too busy to handle. Broker 1 asks Broker 2 to handle the order. Broker 2 buys the stock from Broker 3 on behalf of Broker 1's client. The transaction will be recorded as if Broker 1 was never involved (he/she has "given it up"), even though the initial order was placed with him/her.
Use give up in a sentence
“ I do not have much time, so I decided to give up the opportunity to compete in the office contest to my partner. ”
“ I decided to give up and leave because I could not change their minds and was getting verbally abused on a daily basis. ”
“ When Same was out of town, he had a give up so that his client could get all the necessary trades in that he desired even though Sam was out of the office. ”
