Two dollar broker

Two dollar broker

Floor broker of the NYSE, who executes orders for other brokers having more business at that time than they can handle with their own private floor brokers or who do not have their exchange member on the floor.

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.
References in periodicals archive ?
The domestic trading staff has access to a network of two dollar brokers that enables our team to provide clients with up to the minute information direct from the exchange floor.