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Strictly speaking, an investment firm which handles client orders for transactions in securities as an {{tag|agent}}. To be contrasted with a [[dealer]], who trades in the market as a {{tag|principal}} in its own right. | |||
More commonly referred to as a [[broker-dealer]], seeing as most firms act as both. | |||
Revision as of 10:34, 20 July 2016
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.