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Finance Dictionary and Glossary of Investment Terms
An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined in this type of account, allowing for easier management by the futures merchant.
An account carried by one futures commission merchant with another futures commission merchant in which the transactions of two or more persons are combined and carried in the name of the originating broker, rather than designated separately. Related: Commission house.
An account that one futures commission merchant carries for another in which the transactions of multiple individual account holders are combined. The identities of the individual account holders are not revealed to the holding merchant.