contra broker

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.