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Finance Dictionary and Glossary of Investment Terms
A financial organization that performs services (acts as an intermediary) in a market for another organization that does not have access to that market.
The name given to a bank, broker, dealer, or financial institution that acts on behalf of another financial institution with limited or restricted access to the financial markets where a transaction must occur.
A bank, brokerage or other financial institution that performs services for other banks, brokerages or other financial institutions, where the latter does not have direct access.