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Strictly speaking, an investment firm which trades in the market as a {{tag|principal}} in its own right. To be contrasted with a [[broker]], who handles client orders for transactions in securities as an {{tag|agent}}.  
{{anat|brokerage}}Strictly speaking, an investment firm which trades in the market as a {{tag|principal}} in its own right. To be contrasted with a [[broker]], who handles client orders for transactions in securities as an {{tag|agent}}.  


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.


===See also===
{{seealso}}
*{{tag|Broker-dealer}}
*{{tag|Broker-dealer}}

Revision as of 14:59, 27 November 2018

Brokerage Anatomy™

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FIA/ISDA documentation |
Trading capacities: Principal | Undisclosed principal Riskless principal | Agent | Undisclosed agent

Broker types: Broker | Dealer | Broker/dealer | Executing broker | Clearing broker | Prime broker | FCM | CCP

Clearing: Clearing overview | How clearing works | What gets cleared? | Who clears? | Clearing documentation
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Strictly speaking, an investment firm which trades in the market as a principal in its own right. To be contrasted with a broker, who handles client orders for transactions in securities as an agent.

More commonly referred to as a broker-dealer, seeing as most firms act as both.

See also