undivided account |
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Definition
New-issue underwriting syndication in which each member of the syndicate has dual liability: to sell (1) the percentage of the issue it underwrote, and (2) the same percentage of the issue remaining unsold due to the failure of other member(s) to sell the percentage they underwrote. Also called eastern account. See also divided account.
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undivided account is in the Banking, Commerce & Finance and Securities & Futures Trading subjects.
undivided account appears in the definition of the following term: eastern account
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