Underwriter Takedown

Definition

Underwriter Takedown. Infomation on Takedown quantity of the security handled by the underwriter (that will be brought into DTC).

Issues and Challenges

Question: Do securities issued through processes other than the one formally identified as "Underwriting Process", have Underwriters? Our research would indicate that agency and non agency MBS issuance processes are not "Underwriting" processes as defined for the DTCC Muni unwriting process, but they do have a step which involves identifying and appointing an underwriter, so the issue is underwritten. It may be that these two processes should be defined as types of (variants on) a more general Underwriting Process, which is itself more general than the one captured separately for DTCC Muni Issuance, which is where this term now lives. Modeling Note: Definition is too DTC specific, from DTCC earliy reviews on Muni process. Need to have a global definition and understanding of this term.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.