Types of Broker-Dealers

There are many types of Broker-Dealers: Clearing Broker-Dealer – This type compares and clears its client’s trades and its own trades against other broker dealers. Eg: DTTC Commodity Houses – They don’t deal with securities. They deal with products like agriculture produce, oil, etc. They buy and sell futures on the products. Correspondent firms – use […]

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If you work for a US Bank in the capital markets domain, you would come across this term almost everyday. Who is a Broker-Dealer? A Broker-Dealer could be a person or a firm involved in buying and selling securities. I had the opportunity to work for Pershing LLC where this term was commonly used for […]

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