A broker-dealer who communicates bids or offers on the floor of a stock exchange at the designated location for trading in a reported security or who, in an off-exchange transaction, communicates the bid or offer as either a principal or an agent, for its own or another’s account. SEC Rule 11Ac1-1(a)(21) (17 CFR § 240.11Ac1-1(a)(21)).
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truck. Hist. Scots law. The payment of wages in scrip or goods. • Truck systems, once common where workers had to live in isolated areas and depended on company stores for food and clothing, were abolished in the 19th century. “Truck was payment not in money but in goods or tickets which could be exchanged
holder for value 已付对价的持票人 指已经支付有效对价而占有所有权凭证、票据或投资证券的人。在英国《汇票法》〔Bills of Exchange Act〕中，指已支付对价的汇票或本票的持票人。美国《统一商法典》〔U.C.C.〕第3-303条规定，在下述情况下构成已支付对价的持票人：１在约定对价完成的范围内或其以司法程序以外的方式取得票据上的担保利益或留置权；２以对在先债权进行偿付或提供担保的方式取得票据，无论债务人为谁或债务是否已经到期；３以交付其他流通票据或对第三人实施不可撤销行为的方式取得票据。
key money. 1. Payment (as rent or security) required from a new tenant in exchange for a key to the leased property. [Cases: Landlord and Tenant 184(2). C.J.S. Landlord and Tenant §§ 473(2–5).] 2. Payment made (usu. secretly) by a prospective tenant to a landlord or current tenant to increase the chance of obtaining a
au besoin (oh b[schwa]-zwan). [French “in case of need”] A designation in a bill of exchange stating who is responsible for payment if the drawee fails or refuses to pay. • Au besoin is part of the phrase au besoin, chez Messrs. Garnier et DuCloux (meaning “in case of need, apply to Messrs. Garnier and
refinancing, n. An exchange of an old debt for a new debt, as by negotiating a different interest rate or term or by repaying the existing loan with money acquired from a new loan. — refinance, vb.
Pareto superiority, n. An economic situation in which an exchange can be made that benefits someone and injures no one. • When such an exchange can no longer be made, the situation becomes one of Pareto optimality. — Pareto-superior, adj.
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quotation. 1. A statement or passage that is exactly reproduced, attributed, and cited. 2. The amount stated as a stock’s or commodity’s current price. market quotation. The most current price at which a security or commodity trades. [Cases: Exchanges 13.] 3. A contractor’s estimate for a given job. — Sometimes shortened to quote. [Cases: Contracts
swap, n. Commercial law. 1. An exchange of one security for another. 2. A financial transaction between two parties, usu. involving an intermediary or dealer, in which payments or rates are exchanged over a specified period and according to specified conditions. currency swap. An agreement to swap specified payment obligations denominated in one currency for
executive agency 〈美〉执行机构 指诸如陆军和空军调剂服务机构〔Army and Air Force Exchange Service〕的行政部门，其行为由成文法规定，其签定的合同须接受司法审查。