pass the book


The process of one brokerage firm transferring all the responsibilities associated with an account to another brokerage firm in a different time zone, so that the brokerage firm can make trades over a 24-hour period. Essentially, this extends the period that the brokerage firm can make trades. This type of action may occur several times in a 24-hour period as the account is transferred to various locations across the world.
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pass off pass through certificate