Inter-dealer Broker
A specialist broker who acts as an intermediary between market-makers who wish to buy or sell securities to improve their book positions, without revealing their identities to other market-makers.
This is where dealers trade directly with one another or through inter-dealer brokers (i.e. companies like GFI Group, BGC Partners and Garban, who act as middle-men between dealers such as investment banks).
The transaction was between two market makers registered in the security in question. This may also include those executed through an inter-dealer broker or a public display system.
Market manipulation ...
The main market participants are banks, hedge funds, insurance companies, pension funds, and other corporates. The main inter-dealer brokers are Creditex, GFI Group and ICAP.
Types ...
The organization is a registered clearing agency with the Securities and Exchange Commission and majority-owned by its members -- MBS dealers, inter-dealer brokers and other non-broker/dealers.
 See also: Broker, Quote, Transaction, Sell, Dealer
  
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