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Contra Broker

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Contra broker
The broker on the buy side of a sell order or the sell side of a buy order.
Contra Broker
In a transaction, the broker for the counterparty. For example, the contra broker for a seller is the buyer's broker.
contra broker
The broker on the opposite side of a transaction. To a broker acting as an agent to buy, the contra broker is the selling broker. Conversely, to a broker on the sell side, the contra broker is the broker on the buy side.
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Schwab also announced in June that it would waive commissions on electronic equity trades and reimburse transfer of account fees charged by contra brokers through June 30, 2010 for new-to-Charles Schwab & Co.
New Schwab Website for Independent Advisors Makes Debut by Business Wire
As part of its commitment to help independent advisors fuel their growth, Schwab also recently announced that starting in July it would waive commissions on electronic equity trades and reimburse transfer of account fees charged by contra brokers through June 30, 2010 for new-to-Charles Schwab & Co.
The Next Five Years Are a Growth Opportunity, Say Independent ... by Business Wire
 
 
 
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