Broker whose structure is focused in the effecting the operations of its clients in the conglomerate as well as the operations of its own portfolio. It also works as custodian; in this case the broker does not effect any orders but simply receives the operations relayed by other brokers.

Basic characteristics:

• Attending clients of the economic group.
• Custodian broker service for non economic group clients.
• Receiving large number of relays.
• Administration and control of high operational risk, in the face of repasses.
• Management and control of client credit risk

Business management:

• Specific systems and procedures to identify and control the business risks of the deals received as relays for confirmation.
• System for risk assessment and control of credit risk that is exposed as broker custodian.
• Efficiency in the liquidation procedure through a well structured back office which enables the control of relay receiving, the specifications of the deals, and guarantee control.