Cash brokerage

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Cash brokerage
/kæʃ ˈbrəʊkərɪʤ/ (n.)

To be contrasted with synthetic (prime) brokerage, “cash brokerage” in these pages means the buying or selling of actual securities, through an actual broker, for actual cash, meaning you pay actual stamp duty and you will need some kind of custodian to hold them for you.

Synthetic brokerage is merely the same thing done through the medium of swaps, where you never own a security, but have an exposure to the value of a security through a synthetic equity swap, or contract for differences.

See also

• Prime brokerage
• Synthetic prime brokerage