A broker who buys bills of exchange, especially Treasury bills, from traders and sells them to banks and discount houses or holds them to maturity.
A commission is a fee paid to an intermediary for facilitating a transaction, typically calculated as a percentage of the sale value. It can be paid by the seller, buyer, or shared between them, and finds applications across various markets such as real estate, commodities, and advertising.
A group of exchange members with a defined area of function, tending to congregate around a trading post pending execution of orders, including specialists, floor traders, odd-lot dealers, and other brokers, as well as smaller groups with specialized functions.
Curb Exchange, also known as the American Stock Exchange, refers to an organized market where securities, commodities, currencies, and bonds are traded directly between brokers or via telecommunication systems.
Intermediation refers to the activity performed by a bank, financial institution, broker or similar entity, acting as a go-between for two parties in a transaction. Intermediaries may accept some or all associated credit or commercial risks.
A multiple listing arrangement among a group of real estate brokers who agree in advance to provide information about some or all of their listings to the others and also to split commissions on sales of such listings between listing and selling brokers.
A computerized system that provides brokers and dealers with price quotations for securities traded over the counter (OTC) as well as for many New York Stock Exchange-listed securities. NASDAQ quotes are published in the financial pages of most newspapers.
An open listing is a non-exclusive property listing given to multiple real estate brokers. The seller agrees to pay the commission only to the broker who introduces a ready, willing, and able buyer that meets the terms of the listing.
A recovery fund is a financial safety net for aggrieved persons in the real estate sector who are unable to collect from brokers for wrongdoings. Funded by licensee contributions, it is generally administered by a state Real Estate Commission.
Regulation T is a regulation enforced by the Federal Reserve Board that sets the minimum amount of credit that securities brokers and dealers can extend to customers for the initial purchase of regulated securities.
Aggressive promoting of a particular item by a corporate spokesperson, public relations firm, broker, or analyst. Touting a stock is unethical if it misleads investors.
A trading post is a physical location on a stock exchange floor where specific securities are bought and sold. It serves as a focal point for the activities of market makers, brokers, and traders.
