board broker

Board Broker

A member or member nominee of a commodity exchange who is entrusted with the responsibility of executing and matching orders, providing price quotations, and maintaining orderliness of trading accounts for the designated commodity.

Notes:

The functions of a commodity exchange board broker are similar to those of the specialists or market makers on stock exchanges. Their main purposes are to create a market for the commodities to which they are assigned and to facilitate smooth and orderly operations throughout the trading day.

See also: Blackboard Trading, Board Broker System, Chicago Board of Trade - CBOT, Commodities, Exchange, Free Crowd System, Futures Contract, Market Maker, Order, Specialist

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Board broker

Employee of the Chicago Board Options Exchange who manages away from the market orders, which cannot be executed immediately.

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board broker

An employee of the Chicago Board Options Exchange who handles option orders that cannot be immediately executed because of price limits away from the current market price.