Carrying Broker

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Carrying Broker

1. A member of a commodity exchange who provides clearing services for other members or brokers. A carrying broker does this in addition to his/her other duties as a member of the exchange in return for a fee.

2. A broker who, in exchange for a fee, performs the duties of other brokers who may be overworked or are otherwise unable to fill an order.
References in periodicals archive ?
Form Custody requires the introducing broker/dealer to identify all carrying brokers to which their customers are introduced on a fully disclosed, as well as an omnibus, basis.