tap stock


tap stock
A gilt ( gilts) which has been issued by means of a tap. Identified by the symbol in the Financial Times. A tap issue is where the stock is issued on a tranche by tranche basis into the market, rather than all being issued at the same time. This may arise where the initial issue of the gilt is not a success or when the issue is very large. Where the subsequent issues of the gilt are fairly large, they are referred to as tranches. Smaller issues are referred to as tranchettes. Dresdner Kleinwort Wasserstein financial glossary

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tap stock tap stock stock1

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tap stock UK US noun [C or U] GOVERNMENT, FINANCE, STOCK MARKET
British government bonds made available over a period of time, whenever the government feels it needs to make them available: »

The Bank of England takes unsold stock on to its own books and then sells this as a tap stock over a period of time.


Financial and business terms. 2012.