Can OTC specialists be kind enough to provide clarity on defining the
Buyer and seller side discount definitions?
i.e. the discounts are usually listed as 5/3 or gross -4% discount -2%, buyer net discount 3%. I am just try to figure out what
gross and net represent as well where the mandate, middleman commissions fit in?
Appreciate explanation
Gross: all commission and mark ups or mark downs in cost
discount: the discount of the cost of the btc
net commission: commission for buyer/seller/middleman - normally separate for seller and buyer side. Sometimes and intermediary commission is specified
closed: not up for negotiation, example sell side commision 1% closed. This means the sell side gets 1% of the final sale amount and it is not subject to change or able to be negotiated down.
5/3 SHOULD be discount/commission. 5% will be taken off of the price per bitcoin with 3% going for commission to everyone who put the deal together