Broker-dealer: Difference between revisions

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	{{anat\|brokerage}}An investment firm that acts both as a [[broker]] (or {{tag\|agent}}) when it executes orders on behalf of clients, and also as a [[dealer]] (or {{tag\|principal}}), when it trades for its own account.		{{anat\|brokerage\|}}{{g}}An investment firm that acts both as a [[broker]] (or {{tag\|agent}}) when it executes orders on behalf of clients, and also as a [[dealer]] (or {{tag\|principal}}), when it trades for its own account.

	The term {{tag\|broker-dealer}} is used in US securities regulation (and in ISDA {{tag\|netting}}) parlance to describe stock brokerages, because most of them act as both [[agent\|agents]] and [[principal\|principals]].		The term {{tag\|broker-dealer}} is used in US securities regulation (and in ISDA {{tag\|netting}}) parlance to describe stock brokerages, because most of them act as both [[agent\|agents]] and [[principal\|principals]].