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?
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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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