Bulge bracket


Bulge bracket

A tier of firms in an underwriting syndicate that have the highest participation level. See: Mezzanine bracket.

Bulge-Bracket Firm

In bracketing, an underwriting firm responsible for placing a certain amount of a new issue with investors. If a bulge bracket firm is the single largest underwriter, it may be responsible for assigning parts of the issuer to other underwriters. Brackets are listed in order of size on an advertisement detailing each new issue, known as the tombstone.