BROKER-DEALER Definition

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BROKER-DEALER is any person or institution, other than a bank, engaged in the business of buying or selling securi­ties on its own behalf or for others.

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NET, in general, is the figure remaining after all relevant deductions have been made from the starting, or gross, amount.

BACKWARDATION is the commission paid by a seller for the postponement of a transaction on a stock exchange when prices for cash delivery are higher than for forward delivery.

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