two-dollar broker

(redirected from Independent Brokers)

Two-Dollar Broker

A broker who conducts trades for another broker's client because the second broker is too busy to do so. The commission the client pays goes to his/her own broker, but the two dollar broker receives a portion from the other broker. Originally, this commission was $2, but now it is negotiated between the two brokers.

two-dollar broker

A member of a securities exchange who executes orders for other members. A two-dollar broker performs essentially the same function as a commission broker except that he or she is independent rather than a representative of a specific firm. Also called independent broker.
References in periodicals archive ?
Our Colorado-based Pawnee Leasing Corporation, founded in 1982, finances a highly diversified portfolio of commercial equipment leases and loans through relationships with over 600 independent brokers in the U.S.
"The continent is of strategic importance to Brokerslink and so we are delighted to welcome a further three independent brokers who can each bring their specific country knowledge, expertise and broking and risk capabilities to our network," commented Tiago Mora, Brokerslink's regional manager for Middle East and Africa.
The independent brokers have revenues of over USD10m and offers integrated risk services and insurance solutions across Indonesia, with a focus on specific industry sectors such as real estate; banking and finance; forestry and agriculture; marine; manufacturing; energy; construction; plants and equipment; and motor.
Insurance provider, Aviva (LSE: AV) has said that it has launched Aviva Broker Community aimed at small, independent brokers.
* Provides ICB Group and its clients with a gateway to Europe and, more broadly, worldwide opportunities through the largest international network of independent brokers Worldwide Broker Network (WBN).
20 July 2018 - Dallas, US-based Integrity Marketing Group, LLC has completed the acquisition of Minnesota, US-based insurance agency National Independent Brokers, Inc., previously owned by the CEO of GoldenCare USA, the company said.
For the independent brokers we will level the field for them."
As the bank's business regional development manager she will develop and manage relationships with independent brokers to generate, package and place new lending propositions with Barclays business managers across the UK and Ireland.
Hoare Govett is a well known name in the City and was one of a handful of dominant independent brokers before the Big Bang in the 1980s.
Bank of America Corp (NYSE: BAC) has said that it would avoid offering mortgages through independent brokers.
PIBA, the country's largest group of independent brokers called for the loan for first-time buyers to be either "abandoned or have its terms made more realistic".
Heartland group joined the Willis Commercial Network in 2000, a partnership of countrywide independent brokers with the Willis Group which enables them to provide clients with all the benefits of a local, independent broker but with access to a much wider range of services such as risk management and placement of risks globally.

Full browser ?