The practice of brokerage houses exchanging IPO shares with top executives for reciprocating business from their companies.
Investopedia Says:
A lucrative means of enticing the business of large companies. By swaying the decision of the top executives, investment brokerage houses can secure a quid pro quo type of arrangement.
Related Links:
What's an IPO, and how did everybody get so rich off them during the dotcom boom? We give you the scoop. IPO Basics Tutorial




