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 ?
intermediary between customers and carrying brokers. (19) An
nationwide for the benefit of relatively few carrying brokers.
proceedings brought by Stanford investors against carrying brokers for
difference between introducing and carrying brokers).
first the classification of accounts held by a carrying broker for the
accounts held by a defunct carrying broker and share pro rata in
position that a person whose accounts are cleared by a carrying broker
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.