Bucket shop


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Bucket shop

An illegal brokerage firm that accepts customer orders but does not attain immediate executions. A bucket shop broker promises the customer a certain price, but waits until a price discrepancy is present and the trade is advantageous to the firm and then keeps the difference as profit. Alternatively, the broker may never fill the customer's order but keep the money.

Bucket Shop

1. A brokerage that aggressively and often illegally sells its own securities to is clients because it wishes to divest itself and not because selling them is in the interests of the clients. The federal government limits bucket shop activities by limiting the over-the-counter transactions that brokerages are allowed to make.

2. A brokerage that agrees to buy or sell securities on behalf of clients at a given price, but instead buys at a lower price or sells at a higher price in order to keep the difference as profit.

bucket shop

An illegal operation in which buy and sell orders are accepted, but no executions actually take place. Instead, the operators expect to profit when customers close out their positions at a loss. A bucket shop is similar in concept to a bookie who does not lay off bets and accepts the risk of a bettor winning.

Bucket shop.

A bucket shop is an illegal brokerage firm whose salespeople pose as legitimate brokers and attempt to sell you securities.

Typically, a bucket shop broker doesn't actually purchase the securities you agree to buy and that you pay for. Rather, the con artists pocket your money and move on, disappearing before you realize you have been scammed.

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References in periodicals archive ?
The result has been almost no one having credit and the banks, hedge funds, and modern bucket shops being paid handsomely for the privilege.
But that's not to say that The Bucket Shop isn't open to reaching out to new clientele or markets.
Both businesses, the Bucket Shop and Steeltec, share staff and are operated by United Supply, which also operates a full-line industrial, commercial, institutional and residential cleaning and supply division called Swish.
Online bucket shop lastminute.com yesterday reported a surge in subscriber numbers and a slight narrowing of losses for the first three months of the year.
Long-suffering investors in online bucket shop lastminute.com were also given a boost after the company issued well-received first quarter figures and announced a link-up with thomascook.com.
Online bucket shop lastminute.com fared well after announcing its first set of full-year figures as a publicly quoted company, up 61/1p at 78p.
And investors in online bucket shop Lastminute.com received a welcome respite from the dotcom's sliding share price as it unveiled new technology to power its website, lifting the shares eight per cent, or 51/1p, to 771/1p.
Online bucket shop lastminute.com has linked up BT and voice-recognition experts Nuance to develop a web site to which people can talk.
While the company became famous as an online holiday bucket shop, sales of other goods and services have risen and now account for almost half its transactions.
The latest are two Oxford University graduates who set up an on-line bucket shop.
The malaise on our High Street which has seen the humbling of British Retailing's flagship stores has coincided with the rise of American-style bucket shop boutiques which peddle only the slip-shod and the unsightly.
It specialises in services not usual in a bucket shop - allocated seating and special needs.