agency transaction, principal transaction

Agency Transaction:

A transaction in which the executing brokerage firm acts as an agent and usually charges a commission for its services. Contrast with Principal Transaction.

Principal Transaction

A transaction between a retail or institutional customer and a financial intermediary in which the financial firm acts as a principal, i.e., trades for its own account. Compare to Agency Transaction.

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Cf1. principal orders, principal trade

Cf2. proprietary trading