Intermediate broker: Difference between revisions

Latest revision as of 13:30, 14 August 2024

The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™

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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.

@@ Line 2: / Line 2: @@
 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 {{tag|EMIR}}
+*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 {{tag|CRR}} if you don’t pass on all solvency relates losses as contemplated in Art {{crrprov|306(1)(c)}} of that glorious regulation.
+*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}}