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Best efforts basis

• Securities dealers do not underwrite a new issue, but sell it on the basis of what can be sold. In the money market, this usually refers to a firm order to buy or sell a given amount of securities or currency at the best price that can be found over a given period of time; it can also refer to a flexible amount (up to a limit) at a given rate.

 
 Embedded terms in definition
 Basis
Buy
Currency
Firm
In the money
Issue
Market
Money market
New issue
Order
Securities
Sell
Time
Underwrite
 
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