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Thank You or the invitation .. I would agree with Mr. Vinod definition.. Nothing to add !
I agree with the answer written by Mr.Vinod!
agree with mr. vinood on his answer
Broker-Dealer
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What is a 'Broker-Dealer'
A broker-dealer is a person or firm in the business of buying and selling securities, operating as both a broker and a dealer, depending on the transaction. The term broker-dealer is used in U.S. securities regulation parlance to describe stock brokerages, because most of them act as both agents and principals. A brokerage acts as a broker (or agent) when it executes orders on behalf of clients, whereas it acts as a dealer (or principal) when it trades for its own account.
