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Definition of 'Inter-Dealer Broker'
1. A brokerage firm operating in the bond or OTC derivatives market that acts as an intermediary between major dealers to facilitate inter-dealer trades.
2. A member of the London Stock Exchange who is only permitted to deal with market makers, rather than the public.
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Investopedia explains 'Inter-Dealer Broker'
Inter-dealer brokerages operate on very small spreads, but they handle extremely large transactions.
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