Securities Firm Operations: Investment Banking, Brokerage, and Trading
Book: Financial Markets and Institutions, 11th Edition Author: Jeff Madura Publisher: Cengage Learning, 2015 ISBN: 978-1-133-94788-2
Chapter 24 is about securities firms, and it covers a lot of ground. These are the companies that sit at the center of capital markets, helping governments and corporations raise money, facilitating trades between investors, and sometimes trading for their own profit. Some are independent. Many are part of larger financial conglomerates. After the credit crisis, some became part of bank holding companies. But their securities operations remain distinct from traditional banking.