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Merchant bank |
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Merchant bankA British term for a bank that specializes not in lending out its own funds, but in providing various financial services such as accepting bills arising out of trade, underwriting new issues, and providing advice on acquisitions, mergers, foreign exchange, portfolio management, etc.Merchant bank Similar MatchesFutures commission merchant (FCM)Futures commission merchant (FCM)A firm or person engaged in soliciting or accepting and handling orders for the purchase or sale of futures contracts, subject to the rules of a futures exchange and, who, in connection with such solicitation or acceptance of orders, accepts any money or securities to provide margin for any resulting trades or contracts. The FCM must be licensed by the CFTC. Related: Commission house, omnibus account. Merchant accountMerchant accountA bank account maintained for the purpose of accepting credit card payments for goods and services. Futures Commission MerchantFutures Commission MerchantIn the US, an individual or organisation accepting orders to buy or sell futures contracts or futures options, and accepting payment for his services. FCMs must be registered with the CFTC and the NFA. |
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