Quote from TradeViper:
Huh? what is an operator and agent?
The Ever Curious VIPER
Dear Sir
If you asked author,than better read source's of Romian law
Operator= client,investor,speculator or PRINCIPAL
Broker is common agent of multiple principal's
If broker have source of revenue as trading from proprietary
trading desk ,than exist conflict of interess .Broker is traded against client ,is not pure agnt of principal.
You can aslov read source of income of pure agents by 10-k
www.sec.gov OXPS and AMTD (after selling interess in NITE)
Interactive broker is notpure agent as have interess by Market maker TMWD