
Stock Exchanges in India | 161
BROKER AND SUB-BROKER IN THE
SECONDARY MARKET
Broker
A broker is a member of a recognized stock exchange, who is permitted to do trades
on the screen-based trading system of dierent stock exchanges. He/she is enrolled
as a member with the concerned exchange and is registered with SEBI.
Following are the types of brokers.
Full Service Broker
This broker is the most costly. They do research and give recommendations on
which stocks you should invest in. A lot of times the recommendations that they
give are stocks of which their own company specializes in. The company makes all
this information public. In a full service ...