Dealer

Brokerage Anatomy™ →Go uptown {{{2}}} 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 Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

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

• Broker-dealer