broker meaning
- Act as a broker
Derived forms: brokering, brokers, brokered
See also: brokerage
Type of: bourgeois, businessperson, negotiate, talk terms
Part of: brokerage, brokerage firm, securities firm
Encyclopedia: Broker Broker, Outer Hebrides
[Business]
AmE / noun, verb
■ noun [C]
AGENCY BROKER, BILL BROKER, COMMERCIAL BROKER, COMMISSION BROKER, CUSTOMS BROKER, DISCOUNT BROKER, INSURANCE BROKER, MONEY BROKER, REAL ESTATE BROKER
1 (Commerce )
a person or company that buys and sells things, for example shares, bonds, etc., for other people:
Luis works for a firm of insurance brokers.
He watches how the brokers work when they are on the phone to customers. See note at AGENT
an insurance/money/mortgage broker
2 (Stock Exchange ) = STOCKBROKER
■ verb [+ obj]
to arrange the details of an agreement:
The airline has brokered a joint marketing deal with the city tourist board.
[Economics]
An agent who brings two parties together, enabling them to enter into a contract to which the broker is not a principal. A broker's remuneration consists of a brokerage, which is usually calculated as a percentage of the sum involved in the contract but may be fixed according to a tariff. Brokers are used because they have specialized knowledge of certain markets or to conceal the identity of a principal, in addition to introducing buyers to sellers.
See:
[Finance]
An individual who is paid a commission for executing customer orders. Either a floor broker who executes orders on the floor of the exchange, or an upstairs broker who handles retail customers and their orders. Also, person who acts as an intermediary between a buyer and seller, usually charging a commission. A "broker" who specializes in stocks, bonds, commodities, or options acts as an agent and must be registered with the exchange where the securities are traded. Antithesis of dealer.
[Law]
Someone who buys and sells securities for clients for a commission; regulated in part by federal authorities (especially the Securities and Exchange Commission); in part by state agencies; and in part by agencies set up by the securities industry.
Someone who has supervisory power over a real estate sales company; largely regulated by state authorities.
Those who are engaged for others, in the negotiation of contracts, relative to property, with the custody of which they have no concern.
A broker is, for some purposes, treated as the agent of both parties; but in the first place, he is deemed the agent only of the person by whom he is originally employed; and does not become the agent of the other until the bargain or contract has been definitely settled, as to the terms, between the principals.
There are several kinds of brokers, as, Exchange Brokers, such as negotiate in all matters of exchange with foreign countries.
Ship Brokers. Those who transact business between the owners of vessels, and the merchants who send cargoes.
Insurance Brokers. Those who manage the concerns both of the insurer and the insured.
Pawn Brokers. Those who lend money, upon goods, to necessitous people, at interest.
Stock Brokers. Those employed to buy and sell shares of stocks in corporations and companies.
- advisory broker: [Economics]A broke ...
- agency broker: [Business]noun [C] ...
- ambulance broker: noun A ...
Examples
More: Next- a stormy applause broke out in the hall.
- demonstrators broke through the police cordon.
- he broke the capsule with his tongs.
- he broke a piece of bread from the loaf.
- i broke in upon her stream of reminiscences.
