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cashier's department

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cashier's department
The division of a broker-dealer operation in which security certificates are processed, checks are sent or received, and dividend and interest records are kept. Essentially, the cashier's department handles the broker-dealer's money and paperwork. Also called cage.

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By 16-1/2 he was working in the cashier's department at Merrill Lynch on Wall Street, where he also worked full-time upon graduation and then moved to Blair & Company Inc.
 
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