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An agent who acts as an intermediary between buyer and seller in trading securities, commodities, or other property. He or she charges a commission for this service.


Independent Broker

Member on the floor of the NYSE who executes orders for other brokers who are too busy to handle all of their orders or for firms who do not have their exchange member on the floor. Independents are still sometimes referred to as two-dollar brokers because they originally received $2 for every hundred shares they traded. Now the commission brokers pay their fees.