Articles on: Investment Glossary

Independent Broker

A member on the floor of the NYSE who executes orders for other brokers having more business at that time than they can handle themselves, or for firms who do not have their Exchange member on the floor. Also known as Two-Dollar Brokers when independent brokers received $2 per hundred shares for executing such orders. Their fees are paid by the commission brokers.

Updated on: 24/04/2023

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