Orders & Market Structure

Broker

A firm or person that handles securities transactions for customers, subject to applicable regulation.

Plain-English context

Put the definition to work.

ILLUSTRATIVE EXAMPLE

You send a limit order through a broker; it may route the instruction to another venue rather than selling you its own inventory.

IMPORTANT DISTINCTION

A familiar app interface does not identify the executing venue or eliminate custody, routing and account-rule questions.

Further reading and verification. Examples are hypothetical, not current quotes or recommendations. Product terms, tax treatment and market rules can change. FINRA — order types and execution

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