intermediaries offer
- (1) (in LR) a marketing of securities already or not yet in issue, by means of an offer by, or on behalf of, the issuer to intermediaries for them to allocate to their own clients.36
- (2) (for the purposes of the Code of Market Conduct (MAR 1)) a marketing of securities not yet in issue, by means of an offer by, or on behalf of, the issuer to intermediaries for them to allocate to their own clients.36