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Terms in Brokers

Affirmative Obligation

In finance, the term “affirmative obligation” refers to the responsibilities of market makers working on the New York Stock Exchange (NYSE). read more

Agency Broker Defined

An agency broker is a broker that has a formal responsibility to act in the best interest of their clients. read more

Agency Cross

An agency cross is a transaction in which an investment adviser acts as the broker for both their client and the other party in the transaction. read more

American Code for Information Interchange (ASCII)

The American Code for Information Interchange (ASCII) is a type of code for data transmission. It was used in most computer systems for many years. read more

Associated Person

An associated person is any owner, partner, officer, director, branch manager, or non-clerical or administrative employee of a broker or dealer. read more

Best Execution

Best execution is a legal mandate that dictates brokers must seek the most favorable circumstances for the execution of their clients' orders. read more

Blocked Period

Blocked period refers to a length of time in which an investor’s securities are prevented from being accessed. read more

Block House

A block house is a brokerage firm that specializes in locating potential buyers and sellers of large-scale trades. read more

Board Broker

A board broker is a member of a commodity exchange who is responsible for matching and executing orders and providing various market-making services. read more

Board Broker System

In finance, the term board broker system refers to a method for managing the liquidity and orderly execution of orders on a commodity exchange. read more

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