contra broker

Contra broker

The broker on the buy side of a sell order or the sell side of a buy order.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Contra Broker

In a transaction, the broker for the counterparty. For example, the contra broker for a seller is the buyer's broker.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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.