Broken up

Definition:

Used for listed equity securities. Prevented from executing a trade (committed to upstairs) due to exchange priority rules excluding one's order (e.g., higher bid/lower offer on floor, market order to satisfy).

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Pension Benefit Guaranty Corporation (PBGC)

A federal agency that insures the vested benefits of pension plan participants (established in 1974 by the ERISA legislation).

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