Glossary of Municipal Securities Terms

COMMITMENT WIRE

A communication from the senior manager to syndicate members setting forth the final terms of a new issue of municipal securities sent prior to the award of the securities. Syndicate members will be committed to the underwriting at the terms set out in the wire unless such members withdraw as may be permitted in the agreement among underwriters or other mutual agreement. Compare: VERBAL AWARD; FORMAL AWARD.

Search the Glossary

 

Browse Terms by Letter