"Dealer-Broker" at Lehman? What is that?
I'm really confused by what the press is talking about when they say "dealer-broker" about Lehman? I would have guess brokers, but what is is exactly?
brokers execute orders on behalf of their customers (retail and institutional investors)
dealers trade for themselves (market maker function)
firms that do both are known as broker-dealers
..never heard of dealer-brokers
can you post the link to where it says that?
all banks are broker-dealers: they execute, market-make and clear for clients.
You're killing it today with brokering services haha
Glad to be on someone's radar ;)
Sorry to be reviving an old thread, but what differentiates a broker-dealer from an execution trader at a bank?
A broker dealer is a bank, an execution trader executes trades for clients.
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