Commercial paper issued by a company to a dealer, who in turn sells the paper to investors. Commercial paper is a short-term debt security. Dealer paper describes one way a company may issue it. This method generally excludes small investors because there is a large minimum investment, often $250,000 or more. See also: Direct paper.
Commercial paper that is sold by original issuers through dealers who wholesale the paper to its ultimate buyers. Individual investors are usually excluded from trading in dealer paper because of the size of the investment required, usually a minimum of $250,000. Compare direct paper.