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Strictly speaking, an investment firm which handles client orders for transactions in securities as an | {{anat|brokerage}}Strictly speaking, an investment firm which handles client orders for transactions in securities as an [[agent]]. To be contrasted with a [[dealer]], who trades in the market as a [[principal]] in its own right. | ||
More commonly referred to as a [[broker-dealer]], seeing as most firms act as both. | More commonly referred to as a [[broker-dealer]], seeing as most firms act as both. | ||
Curiously one may speak of an [[executing broker]] but not an [[executing dealer]], and even if you did, you would be talking of a quite different beast to a [[prime broker]], which is neither, really, a [[broker]] ''or'' a [[dealer]]. | |||
===See also=== | ===See also=== | ||
*{{tag|Broker-dealer}} | *{{tag|Broker-dealer}} | ||
Latest revision as of 13:30, 14 August 2024
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Brokerage Anatomy™
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Strictly speaking, an investment firm which handles client orders for transactions in securities as an agent. To be contrasted with a dealer, who trades in the market as a principal in its own right.
More commonly referred to as a broker-dealer, seeing as most firms act as both.
Curiously one may speak of an executing broker but not an executing dealer, and even if you did, you would be talking of a quite different beast to a prime broker, which is neither, really, a broker or a dealer.