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The procedure used when a specialist makes a trade involving his own inventory, on one hand, and a floor broker's order, on the other. The broker must first complete the trade with the specialist, who then transacts a separate trade with the customer.

Investing Essentials

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

Term of the Day

Growth stage

In context of private equity, the state of a company when it has received one or more rounds of financing and is generating revenue from its product or service. Also known as middle... Read More

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