Broker: Difference between revisions
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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. | {{anat|brokerage}}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. | More commonly referred to as a [[broker-dealer]], seeing as most firms act as both. | ||
Latest revision as of 14:59, 27 November 2018
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Brokerage Anatomy™
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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.
Curiously one may speak of an executing broker but not an executing dealer, and even if you did, you would be talking of a quite different beast to a prime broker, which is neither, really, a broker or a dealer.