Series 50: Joint Trading

Taken from our Series 50 Online Guide

Joint Trading

Municipals dealers may sometimes team up and form a joint trading account to purchase and sell a large block of municipal securities. They share proportionately in the profits and losses according to their share of participation in the account. Terms and conditions of joint account agreements may vary greatly, but participants are always constrained to offer a single price for the bonds to represent the entire group.

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