A syndicates per-share compensation.

The per-share or per-bond compensation of a selling group for participating in a corporate underwriting.

Refers to the selling group's per-share or per-bond compensation in a corporate underwriting.

(1) In the sale of a new issue of municipal securities, the amount of reduction from the public offering price syndicate grants to a broker-dealer that is not a member of the syndicate, expressed as a percentage of par value or, for zero coupon bonds, as a percentage of dollar price.  This is also known as a “dealer's allowance.”  See:  SPREAD.(2) In the secondary market, bonds are usually offered to other broker-dealers “less a concession,” that is, at a price expressed in terms of a net offering price (in basis or dollar price terms) minus a differential (in points or dollars per bond) granted between professionals; this differential is called the “concession.” Compare: NET OFFERING.

A price reduction or rebate from an established price or charge. In securities underwriting, the fee that is paid on each stock or bond that is sold by securities firms and brokers within the underwriting group of a public offering. Also known as selling concession.

Part of the underwriting spread that the selling group receives from the syndicate for helping to sell a new issue. Also, part of a mutual fund's sales charge paid to an NASD member broker.

The fee paid to certain dealers who are members of the selling group of a securities underwriting syndicate.