BROKERAGE Definition

BROKERAGE, dependent upon usage, is the business of a broker; charges a fee to arrange a contract between two parties, or, the place where a broker conducts his/her business.

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BCL is an acronym for, among others, Bank Comfort Letter or Bachelor of Canon/Civil Law.

ZERO COUPON BONDS are bonds priced at a large discount from face value. The bonds mature at full face value so the difference between the original issue price and the face value represents interest income. The issuer of the zero coupon bond saves on cash flow since the interest isnt paid out until the end of the bond holding period.

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