Series 28: Riskless Principal Transaction

Taken from our Series 28 - Introducing Broker-Dealer Financial and Operations Principal Qualification Examination

Definition of the term Riskless Principal Transaction...

when a non-market maker receives an order from a customer and then buys stock from a market maker to fill the order, but instead of immediately delivering the stock to the customer, he or she puts it into a riskless principal account. The non-market maker then sells the stock from this account to t

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