Broker Operations terms

Operational functions behind a broker, including reporting, reconciliation and payments.

Firm providing trading accounts, market access, platforms and execution services.

Online area where clients manage accounts, documents, funding and support.

Participant trading for its own account and often quoting prices to clients.

Broker model where client orders may be handled internally by the broker.

Broker model connecting client orders to other participants or liquidity providers.

Bank or institution providing buy and sell prices to brokers or venues.

Participant quoting buy and sell prices and often providing liquidity.

Execution model routing client orders to external liquidity rather than internal dealing desk.

Branded brokerage or platform solution using another provider's infrastructure.