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Finance Dictionary and Glossary of Investment Terms
Sell the book
Definition 1.
Used for listed equity securities. Order to a broker by the holder of a large quantity of shares of a security to sell all that can be absorbed at the current bid price. The term derives from the specialist's book - the record of all the buy and sell orders members have placed in the stock one handles. In this scenario, the buyers potentially include those in the specialist's book, the specialist for its own account, and broker-dealers.
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Definition 2.
An order by an institutional investor to a broker to sell as much of its current position as possible in a given security at the current market price.
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