TeachMeFinance.com - explain Outside broker
Outside broker -- A broker who is not a member of an exchange
; one who deals iri securities that are not dealt in on
a stock exchange. A dealer in the outside market or on the
curb is an outside broker. In New York such a broker is not
a bucket shop keeper; see Bucket shop.
In London an outside broker is one who is not a member
of the London Stock Exchange and is sometimes described
as a bucket shop keeper. Some outside brokers, however, conduct
a perfectly legitimate business.
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