Intermediate broker: Difference between revisions
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{{g}}In the world of [[exchange-traded instrument]]s, a [[broker]] who occupies the [[entropy|dun netherworld between a [[client]]-facing [[executing broker]] and the [[exchange]] or [[CCP]]-facing [[clearing member]]. May or may not be affiliated with the [[executing broker]]. | {{g}}In the world of [[exchange-traded instrument]]s, a [[broker]] who occupies the [[entropy|dun netherworld]] between a [[client]]-facing [[executing broker]] and the [[exchange]] or [[CCP]]-facing [[clearing member]]. May or may not be affiliated with the [[executing broker]]. | ||
Of interest<ref>Professional interest, needless to say.</ref> because: | Of interest<ref>Professional interest, needless to say.</ref> because: | ||
*An [[intermediate broker]] it might prolong a clearing chain beyond the permissible number of links under | *An [[intermediate broker]] it might prolong a clearing chain beyond the permissible number of links under [[EMIR]] | ||
*It may present a [[RWA|risk-weighting]] problem to you under | *It may present a [[RWA|risk-weighting]] problem to you under [[CRR]] if you don’t pass on all solvency relates losses as contemplated in Art {{crrprov|306(1)(c)}} of that glorious regulation. | ||
{{sa}} | {{sa}} | ||
*[[Broker]]s and [[dealer]]s | *[[Broker]]s and [[dealer]]s | ||
* | *[[EMIR]] | ||
* | *[[CRR]] | ||
*[[Exchange-traded derivatives]] | *[[Exchange-traded derivatives]] | ||
{{ref}} | {{ref}} | ||
Latest revision as of 13:30, 14 August 2024
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In the world of exchange-traded instruments, a broker who occupies the dun netherworld between a client-facing executing broker and the exchange or CCP-facing clearing member. May or may not be affiliated with the executing broker.
Of interest[1] because:
- An intermediate broker it might prolong a clearing chain beyond the permissible number of links under EMIR
- It may present a risk-weighting problem to you under CRR if you don’t pass on all solvency relates losses as contemplated in Art 306(1)(c) of that glorious regulation.
See also
References
- ↑ Professional interest, needless to say.