Glossary of Municipal Securities Terms

MARK-UP

A form of remuneration received by a municipal securities dealer when selling securities as principal to a customer. Mark-up generally is considered to be the differential between the prevailing market price of the security at the time the municipal securities dealer sells the security to the customer and the higher price paid by the customer to the municipal securities dealer. See: SPREAD; TWO-SIDED MARKET. Compare: COMMISSION; MARK-DOWN.

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