quid pro quo

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Quid pro quo

An arrangement allowing a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research.

Quid Pro Quo

An agreement between any firm and a brokerage firm in which the first firm makes use of the other's financial research free of charge. In exchange, the firm agrees to conduct any trades it may decide to conduct as a result of the research with the second firm as broker.

More generally, quid pro quo may describe any financial agreement thought to be mutually beneficial. This may apply to positive things such a trade agreement or to illegal activities such as pay-to-play schemes in municipal contracts.

quid pro quo

An equal exchange that a person or firm makes with another person or firm. In the securities industry institutional investors provide orders to brokerage firms as a quid pro quo for in-depth research.