Broker firm participant overview
A broker firm participant is an entity which:
- is a participant,
- is registered as a futures commission merchant or introducing broker or in another appropriate capacity, or is exempt from such registration, and
- enters orders or executes swaps on a TraditionSEF platform on behalf of customers, or other participants, but may not engage in SEF activity for the broker firm participant’s proprietary account.
A broker firm participant is a vehicle that provides (“intermediated access”) to TraditionSEF's order book liquidity through its own proprietary platforms or services or, can also permit their customers to have direct access to TraditionSEF through the broker firm participant’s trading privileges (“direct customer access”).
