Executing broker

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The executing broker is the registered billing entity, member firm or floor broker to whom an order is transmitted. An executing broker can be a pit broker or a prime broker who gives up the trade to another firm, for example.

The Minneapolis Grain Exchange (MGEX) suggests on its Web site that an individual looking to conduct business with a broker or brokerage firm should thoroughly research potential players before making an investment. All potential firms should be registered with the National Futures Association (NFA), which oversees more than 4,000 firms and 5,000 associates.

Resources

• NFA Site