Independent Broker

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Independent broker

NYSE member who executes orders for floor brokers and firms other than its own.

Two-Dollar Broker

A broker who conducts trades for another broker's client because the second broker is too busy to do so. The commission the client pays goes to his/her own broker, but the two dollar broker receives a portion from the other broker. Originally, this commission was $2, but now it is negotiated between the two brokers.

independent broker

See two-dollar broker.

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