A means of compensating the broker of a program trade using benchmark prices for issues to be traded in determining
commissions or fees.
A convention used for quoting bids and offers for treasury bills in terms of annualized
yield , based on a 360-day year.
In the bond market, the smallest measure used for quoting yields is a basis point. Each percentage
point of yield in bonds equals 100 basis points....
Price expressed in terms of yield to maturity or annual rate of return.