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.
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Related Terms
remise
'give up
' appears in the definitions of these other terms on BusinessDictionary.com
poverty trap, marginal rate of substitution
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