Inter-Dealer Broker

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Inter-Dealer Broker

1. A brokerage that intermediates trades between dealers in the bond market and some over-the-counter markets.

2. A member firm on the London Stock Exchange that only deals with market makers. That is, this inter-dealer broker does not trade securities with members of the public.

In both cases, inter-dealer brokers work with huge transactions with very small spreads. This means that the percentage of profit on an individual is likely small, but the sheer size of transactions makes up for this.
References in periodicals archive ?
subsidiary has entered into an agreement to acquire South African interdealer broker Micromega Securities Proprietary Ltd.
GlobalCapital interviewed senior officials at banks and broker-dealers to determine the interdealer broker award categories and nominees.
I am delighted that Risk has named Tullett Prebon the overall number one broker in their interdealer broker rankings, building upon our strong performances over recent years.
In September last year it transformed itself into the world's second-biggest interdealer broker after Icap through the acquisition of Prebon.
Also, Dow Jones Newswires has partnered with ICAP plc (London), the world's largest voice and electronic interdealer broker, to launch i-Recap Report, a daily custom e-mail newsletter written for ICAP's customers and brokers.
It will be the first time that JBT, the largest interdealer broker of Japanese government bonds in which about 120 securities and other companies have stakes, will provide stock brokerage services.
US-based exchange, clearing house and data services operator Intercontinental Exchange (NYSE: ICE) has entered into an agreement to sell certain US voice brokerage operations of interdealer broker Creditex to UK-based inter-dealer money broker Tullett Prebon (LSE: TLPR), the company said.
Pierce is president and CEO of fixed-income interdealer broker RW Smith.
ICAP (LSE:IAP), an interdealer broker and provider of post trade services, said on Monday that ICAP Ocean Tomo LLC, its intellectual property brokerage division, is to sell a patent portfolio of Server Based Gaming technology owned by Legal iGaming Inc.
Goldman Sachs (NYSE: GS) has announced that it would participate in a joint venture between foreign exchange settlement provider, CLS Group, and interdealer broker ICAP plc (IAP.