Carrying Broker

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Carrying Broker

1. A member of a commodity exchange who provides clearing services for other members or brokers. A carrying broker does this in addition to his/her other duties as a member of the exchange in return for a fee.

2. A broker who, in exchange for a fee, performs the duties of other brokers who may be overworked or are otherwise unable to fill an order.
References in periodicals archive ?
Corcoran said that at RJO, for example, the firm has up to 70 different accounts with banks, carrying brokers and exchanges in the United States and abroad.
We support trading on almost all domestic and foreign exchanges either through our direct clearing memberships or through various relationships we maintain with carrying brokers.