BROKER-DEALER - Any person, other than a bank, engaged in the business of buying or selling securities ...
BROKER/DEALER - Broker/dealers have a dual financial role. As brokers, they act on buy and sell orders ...
Broker-dealer: A broker-dealer (B/D) is a license granted by the Securities and Exchange Commission (SEC) that entitles the licensee to buy and sell securities for its clients' accounts.
Broker-Dealer
See: Broker; Dealer
Brokered CD
Certificate of Deposit (CD) that is issued by a bank and bought in bulk by brokerage firms who resell them to their customers.
Broker-dealer Individual Clearer
Broker-dealer individual clearer: following the Jan.
broker-dealer Securities firm.
Brownian motion A simple continuous stochastic process that is widely used in physics and finance for modeling random behavior that evolves over time.
Broker-Dealer (BD)
A person or firm in the business of buying and selling securities. A firm may act as both broker (agent) and dealer (principal) but not in the same transaction.
Broker-dealer
A broker is a firm or individual who executes customer orders and receives a commission. A dealer is a firm or individual who trades for his own account. A broker-dealer does both.
Bubble ...
One Broker-dealer per Day: The company repurchasing shares may not use more than one broker or dealer to acquire the shares per each day.
Timing of Purchase: A repurchase may not be the first trade of the day.
Broker-dealer's failure, as market maker in a given security, to make good on a bid for the minimum quantity. This practice is considered unethical under the Rules of Fair Practice of the National Association of Securities Dealers.
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Broker-dealer firms that disdain practices such as hostile takeovers.
White squire
White knight who buys less than a majority interest.
Broker-dealers aren't required to accept contingency orders, but if they do accept them they are required to abide by the terms of the order.
Contingent beneficiary ...
A broker-dealer who is prepared to buy or sell a specific security - such as a bond or at least one round lot of a stock - at a publicly quoted price, is called a market maker in that security.
A broker-dealer trades in a personal account prior to filling the orders of his or her clients. Prohibited by the NASD rules of fair practice.
Going away ...
2. broker-dealer who trades with other broker-dealers, rather than with the retail investor, and receives discounts and selling commissions.
3. Sponsor of a Mutual Fund.
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See also: Broker-Dealer, Commercial Paper, Dealer
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An order that a broker-dealer executes for the account of a customer with another professional or retail investor and for which a commission is typically charged. (See principal orders)
American Depositary Receipt (ADR) ...
broker/broker-dealer An individual or firm that buys or sells mutual funds or other securities for the public. bull A person with a generally optimistic market outlook. bull market A period of rising prices in a financial market.
Securities Industry Association (SIA) An association of broker-dealers who sell taxable securities, which lobbies the government, records industry trends, and keeps records of broker profits.
In this scenario, the buyers potentially include those in the specialists book, the specialist for his own account, and the broker-dealer crowd.
General loan and collateral agreement The agreement governing the broker-dealer's borrowing against listed securities from a bank for the purpose of carrying on business and making transactions. See: Broker loan rate.
Haircut Formula to evaluate a security's worth in order to determine a broker-dealers net worth.
DTC is a member of the Federal Reserve System and is owned by The Depository Trust and Clearing Corporation (DTCC), which is in turn owned primarily by most of the major banks, broker-dealers, and exchanges on Wall Street.
New York State banking law, a registered clearing agency with the Securities and Exchange Commission, and is owned by the Depository Trust and Clearing Corporation (DTCC), which is in turn owned primarily by most of the major banks, broker-dealers, ...
Transaction fee A charge an intermediary, such as a broker-dealer or a bank, assesses for assisting in the sale or purchase of a security. Transaction loan A loan extended by a bank for a specific purpose.
Broker-Dealer - A securities firm that sells mutual funds or other securities to the public.
Bull Market - A market in which stock prices are generally going up over a period of time.
firm order A client order which is not subject to cancellation, or an order to buy or sell for a broker-dealer's own account. firm price A price which is not negotiable.
When you buy securities from a broker-dealer or market maker, you pay a markup. The markup is either a percentage of the selling price or a flat fee, over and above the amount it cost the broker-dealer to purchase the security.
Generally a finder does not have to be registered as a broker-dealer if its finder's activities are limited.
'AS AGENT' TRADE - A securities transaction executed by a broker-dealer on behalf of and under the instruction of another party.
One group of beneficiaries is market professionals-broker-dealers, securities analysts, floor traders, arbitrageurs, and institutional investors.
Deliberate actions by banks, broker-dealers, mutual funds and portfolio managers and institutional investors to divest of obscure, non glamorous and poorly performing stocks towards the end of the year.
A transaction in which the broker-dealer acts as an agent for the account, and as an intermediary between buyer and a seller, charging a commission for this service. 2). Government securities issued by entities other than the U.S. Treasury, e.g.
Initially, ECNs were not integrated into the national market system, serving primarily as closed trading systems available only to institutions and broker-dealers.
Wholesaler
An underwriter or a broker-dealer who trades with other broker-dealers, rather than with the retail investor.
Wholly owned subsidiary
A subsidiary whose parent company owns virtually 100% of its common stock.
Placement Agent. The broker-dealer who places securities in a private placement by arranging for the direct sale of a security to the purchaser. Unlike an underwriter, the placement agent does not purchase and then resell a security.
PRICEBASE is the most expansive universe of Canadian fixed income data available directly from a Canadian broker-dealer.
A type of account with a broker-dealer in which the customer agrees to pay the full amount due for the purchase of securities within a short period of time, usually five business days.
Certificate of Deposit ...
QSR - Qualified Special Representative Agreement - An agreement between broker-dealers to clear trades without the interaction of the NASDAQ ACT system.
It is initiated by borrowing stock from a broker-dealer and selling it in the open market. This strategy is closed (covered) at a later date by buying back the stock and returning it to the lending broker-dealer.
House rules
Internal rules of broker-dealer firm that govern the handling of its customers' accounts.
Housing bond
Bonds issued by a local housing authority to finance housing projects.
Requires financial institutions, broker-dealers, casinos and money services businesses to file reports of suspicious transactions. Also establishes certain exemptions to the currency transaction reporting requirements.
In the context of general equities, (1) order to buy or sell for the proprietary account of the broker-dealer firm: (2) buy or sell order not conditional upon the customer's confirmation.
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Personal Finance Glossary ...
White-shoe firm
Definition: [crh] Broker-dealer firms that disdain practices such as hostile takeovers.
Their return is set at weekly or monthly auctions run by broker-dealers. Their underlying value is supported by either long-term bonds or preferred shares of companies. The return is actually the interest rates set at the auctions.
Net Capital Requirement - Securities Exchange Commission requirement that broker-dealers in securities maintain a maximum 15 to 1 ratio of indebtedness to cash and liquid assets.
DUE DILIGENCE: The research conducted by broker-dealers and other financial advisors on the legal and economic soundness of an investment.
Used in the context of general equities. To withdraw from a previously declared interest, indication, or transaction; broker-dealers failure, as a market maker in a given security, to make good on a bid/offer for the minimum quantity.
A securities salesperson who represents a broker-dealer or issuer when selling or trying to sell securities to the investing public; this individual is considered an agent whether he or she actually receives or simply solicits orders.
Level Three - Service of the Nasdaq stock market that allows a market maker or registered broker-dealer to enter a bid or ask on the electronic trading system.
Agent intermediaries: Agent Intermediaries are institutions that facilitate the lending and borrowing of securities. These institutions may include custodian banks, broker-dealers, and/or prime brokers.
Ask: An indication by a trader or a dealer of a willingness to sell a security or a commodity; the price at which an investor can buy from a broker-dealer.
Agent - (1) An individual or firm that effects securities transactions for the accounts of others. (2) A person licensed by a state as a life insurance agent. (3) A securities salesperson who represents a broker-dealer or issuer when selling or ...
Securities and Exchange Commission (SEC): The federal agency that regulates activity in the securities markets, and protects the public against malpractice by broker-dealers.
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Tailored investment solutions designed for clients to improve policy implementation, transition management, and commission recapture. Russell provides these specialized services through Frank Russell Securities, Inc., a registered U.S. broker-dealer ...
Investor brochure: Publication of the MSRB that describes municipal securities trading. Upon receiving a complaint from a customer, the broker-dealer must deliver the brochure to the customer.
[NYSE] broker-dealer An entity engaged in the business of buying and selling securities. [SEC] Any person, other than a bank, engaged in the business of buying or selling securities on its own behalf or for others.
 See also: Expense, Banks, Values, Saving, Bills
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