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Primary dealer

• A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC)-registered securities broker-dealers, banks, and a few unregulated firms.

• Is an institution that is entitled and obligated to purchase and sell government securities with the Federal Reserve directly. They serve as the conduits for Federal Reserve open market activities. There are approximately 30-40 such dealers.

 
 Embedded terms in definition
 Commission
Exchange
Financial statement
Government securities
Its
Market
Purchase
Reserve
Securities and exchange commission
Securities
Sell
Subject
 
 Related Terms
 Broker dealer
Dealer
Dealer loan
Dealer market
Dealer options
Foreign exchange dealer
Government security dealer
Odd lot dealer
Primary eps
Primary market
Primary offering
Regional dealer

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