Glossary

Broker Association

See Also:

Broker: Broker is a company or individual that executes futures and options orders on behalf of financial and commercial institutions and/or the general public. A broker charges a fee or commission for executing buy or sell orders for a customer. In commodity futures trading, the term may refer to:
a) a Floor broker, a person who actually executes orders on the trading floor of an exchange;
b) an Account executive or associated person, the person who deals with customers in the offices of futures commission merchants;
c) the futures commission merchant.

Exchange: A central marketplace with established rules and regulations where buyers and sellers meet to trade futures and options contracts or securities. Exchanges include designated contract markets and derivatives transaction execution facilities.

Fill: Fill is the execution of an order.

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