Dealer

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Resources: Bank of England Financial Stability Papers \| 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

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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.

Dealer

See also