Secured Loans
A reverse repurchase agreement between mortgage firms and securities dealers.
Under the agreement, the firm sells federal agency-guaranteed M.B.S. and
simultaneously agrees to repurchase them at a future date at a fixed price.
Get hit
Go lower in price, due to bids in the stock or market being hit, causing those bids
to vanish and be replaced by lower ones. Come in. Antithesis of on the take.
Get out
Used in the context of general equities. Sell interest (We could get out big size in
Humana.)
GIC
See: Guaranteed Investment Contract
Gilt-edged securities
British and Irish government securities. Blue Chip
Ginnie Mae
See: Government National Mortgage Association.
Give up
Used for listed equity securities. 1) Term used in a securities transaction
involving three brokers, as illustrated by the following scenario: Broker A, a floor
broker, executes a buy order for broker B. (Another member firm broker who has
too much business at the time to execute the order.) The broker with whom
broker A completes the transaction (the sell side broker) is broker C. Broker A
gives up the name of broker B, so that the record shows a transaction between
broker B and broker C even though the trade was actually executed between
broker A and broker C; 2) distribution of commissions to brokerage houses not
participating in a trade. This is a grey area of the law intended to reimburse a
broker for previously provided services (i.e., Research). See: directed brokerage.
Glass-Steagall Act
A 1933 act in which Congress forbade commercial banks to own, underwrite, or
deal in corporate stock and corporate bonds.
