Broker Association

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Broker Association

A voluntary organization of members of an exchange in which members share responsibility for filling client orders, making trades, and so forth. That is, a broker association is a group of individual brokerages that acts as one brokerage. A broker association is useful especially for small brokerages that can "team up" with each other to make better deals for clients.
References in periodicals archive ?
16, 2018, New York's biggest and most influential insurance agent and broker associations filed a lawsuit against the DFS over amendments to Regulation 187, which would fundamentally alter the agent/broker-customer relationship in the sale of life insurance and annuities, and ultimately harm consumers.
The Council of Insurance Agents & Brokers, the Independent Insurance Agents of America and over eighty other international agent and broker associations have formed the World Federation of Insurance Intermediaries (32.27.379.580).