Chapter 05 - Casas de Cambio - Brokers versus Dealers/Market Makers - Spring 2020

Author(s): Paiano, Frank
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What is the difference between a broker and a dealer (a.k.a. a market maker)? Brokers charge a commission. Dealers / market makers make money from the difference (a.k.a. the spread) between what they buy and sell the security. This video uses the Casas de Cambio (money exchange houses) along the San Diego / Tijuana border to demonstrate how brokers and dealers charge investors for their services.


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