Broker 5. market maker6

.itehm tsegn i rsowils

itfraehopy t iltrsaebhnopuyten ifnota saed acehmre lracedomf id foreb anumre tsceho tfraen iro itsacehi fd iap traedhnpm ian fsano itracebhnouyw tA tfeopy.) scerobkt a

b) A member of the stock exchange, who buys and sells shares

on his own account, or for non-members, in return for a commission

on the price of the shares.

c) A broker-dealer who is prepared to quote buy and sell (bid

and offer) prices and to buy and sell specified securities at all

times at these prices and is thus “making a market” in them.

d) The percentage below the published retail price at which a manufacturer

sells to his distributors (wholesale or retail) or at which

a wholesaler sells his goods to a retailer. In addition, further discounts

are sometimes given on a scale related to the quantities of

the goods taken. A “concealed ’’discount is one granted by a manufacturer

or wholesaler to favoured customers and not made publicly

known to prevent accusations of unfair trading.

e) A form of barter in international trade in which the buyer requires

the seller to accept goods (of the buyer’s choosing) in

lieu of currency.

f) An intermediary between a buyer and a seller in a highly organized

market.