Interdealer broker

From MarketsWiki

An interdealer broker is a brokerage firm that operates in the over-the-counter or bond market and acts as an intermediary between major dealers and facilitates inter-dealer trades. Unlike traders and investment bankers, the brokers don't take on risk or devise trading strategies for their clients.^[1] Interdealer brokers often facilitate transactions in currencies, bonds, and derivative products related to shares, property and credit markets.^[2]

Resources

• The Role of Interdealer Brokers in the Fixed Income Markets

Major Interdealer Brokers

• ICAP
• Tullett Prebon
• GFI
• Tradition
• BGC

References

1. ↑ Credit Seizure? $6 Million Pay Turns on Relationships. Bloomberg. Retrieved on September 30, 2008.
2. ↑ 30-Second Guide To Inter-Dealer Brokers. This Is Money. Retrieved on September 30, 2008.