The costs of selling securities are called Multiple Choice Underpricing. Flotation costs. Underwriting fees. Spreads Syndicate fees. The best definition of Ex-Rights is: Multiple Choice Period when stock is selling without a recently declared right, normally beginning two business days after the holder-of-record date. Period when stock is selling with a recently declared right, normally beginning four business days after the holder-of-record date. Period when stock is selling with a recently declared right, normally beginning two business days before the holder-of-record date. Period when stock is selling with a recently declared right, normally beginning four business days before the holder-of-record date. Period when stock is selling without a recently declared right normally beginning two business days before the holder-of-record date