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Investing Glossary:
Agency
Copyright 2009,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Term: |
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| Definition: |
| In context of general equities, buying or selling for the Account and Risk of a customer. Generally, an agent, or broker, acts as intermediary between buyer and seller, taking no Financial risk personally or as a firm, and charging a Commission for the service. The Broker represents a customer buyer/seller to a customer seller/buyer and does not act as Principal for the firm`s own Trading account. Antithesis of principal. See: Dealer.
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