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Agency

Definition: Firm that functions on behalf of another company. Definition: [crh] In context of general equities, buying or selling for the account and risk of a customer. Generally, an agent, or brokerDefinition: A>, acts as intermediary between buyer and seller, taking no financial risk personally or as a firm, and charDefinition: ging a commission for the service. The broker represents a customer buyer/seller to a customer seller/buyer and does not act as principal fDefinition: or the firm's own trading account. Antithesis of principal. See: Dealer.

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