contra broker

(redirected from Contra Brokers)

Contra broker

The broker on the buy side of a sell order or the sell side of a buy order.

Contra Broker

In a transaction, the broker for the counterparty. For example, the contra broker for a seller is the buyer's broker.

contra broker

The broker on the opposite side of a transaction. To a broker acting as an agent to buy, the contra broker is the selling broker. Conversely, to a broker on the sell side, the contra broker is the broker on the buy side.
References in periodicals archive ?
Beginning in July, Schwab said it will waive commissions on electronic equity trades and reimburse transfer-of-account fees charged by contra brokers for up to one year for new-to-Schwab clients of advisors who open accounts by the end of 2009.
As part of its ongoing commitment to help independent advisors fuel their growth, Schwab also recently announced that starting in July 2009 it would waive commissions on electronic equity trades and reimburse transfer of account fees charged by contra brokers through June 30, 2010, for new-to-Charles Schwab & Co.
Schwab also announced in June that it would waive commissions on electronic equity trades and reimburse transfer of account fees charged by contra brokers through June 30, 2010 for new-to-Charles Schwab & Co.