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Broker-dealer
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Broker dealer typically is a securities trading firm which combines the functions of a stockbroker - acting as an agent for investors - with that of a dealer - acting as a principal for its own account.
This so-called dual capacity became a feature of the London stockmarket only after Big Bang in 1986.
See Also: Online share dealing service Stockmarket Centre
Last Updated: May 2007 © Moneyextra.com
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