Broker-dealer (Noun)
Meaning
A financial specialist who trades for his own account and so acts both as a broker and principal.
Classification
Nouns denoting people.
Examples
- The firm was registered as a broker-dealer with the Securities and Exchange Commission to facilitate its trading activities.
- As a broker-dealer, the company was able to buy and sell securities for its own account, as well as for its clients.
- The financial services company hired a new broker-dealer to manage its proprietary trading desk.
- The broker-dealer was fined by regulators for failing to disclose its conflicts of interest to clients.
- To expand its business, the investment firm applied for a broker-dealer license to trade securities on behalf of itself and its customers.