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Glossary entry

English term or phrase:

directed brokerage

German translation:

hier: Vereinbarungen zur/über Brokerauswahl

    The asker opted for community grading. The question was closed on 2014-03-17 08:54:09 based on peer agreement (or, if there were too few peer comments, asker preference.)
Mar 13, 2014 10:53
10 yrs ago
English term

directed brokerage

English to German Bus/Financial Investment / Securities
This is from a questionnaire for investment companies, it is called Investment Manager Acceptance Form.
The entire sentence is as follows:

Please describe any material directed brokerage arrangements the firm currently maintains.

It is part of several questions regarding control mechanisms in place in the context of compliance/ethics policies.

I do not have much experience in the field of investment banking and brokerage, so I am having difficulty translating the term "directed brokerage".
I think I have understood that this means that in this case the client is directing the broker and not the company? But I am really not sure.
I was thinking about "zielgerichtete Courtage". This is guesswork, though, as I am having difficulty understanding the relationship described here.

Could anyone please help me by explaining the meaning of this term to me and has anyone any idea what the German term for this might be?
Proposed translations (German)
3 hier: Vereinbarungen zur/über Brokerauswahl
4 s.u.

Discussion

Gerald Maass Mar 13, 2014:
According to the Financial Times, "directed brokerage" means the following: "A practice in which a fund adviser, at the behest of its client, directs a trade to a specific broker-dealer for execution in return for some sort of benefit. Such benefits can include services or payments. Unlike soft dollar arrangements, the benefits are realized by the client, not the adviser." (http://lexicon.ft.com/Term?term=directed-brokerage)

Proposed translations

4 hrs
English term (edited): directed brokerage
Selected

hier: Vereinbarungen zur/über Brokerauswahl

würde ich in diesem Kontext verwenden.

Eine Erklärung:
"6 Vereinbarung über Brokerauswahl (directed brokerage)
Die oben genannten Bestimmungen können durch Vereinbarungen zur Brokerauswahl geändert oder eingeschränkt werden, um die Befugnisse von [XYZ] hinsichtlich der bestmöglichen Ausführung zu begrenzen. Mit einer solchen Vereinbarung weist der Kunde [XYZ] an, einen bestimmten Broker für alle Kundentransaktionen oder einen Teil derselben einzusetzen. Die [XYZ] präferiert die Anwendung des Grundsatzes der bestmöglichen Ausführung auf solche Vereinbarungen. Die [XYZ] kann bei Erhalt einer spezifischen Kundenweisung, die von dem Kunden genannten Broker einsetzen. Der von einem Kunden ausgewählte Broker muss im [XYZ] Brokerverzeichnis
aufgeführt sein."
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&c...
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4 KudoZ points awarded for this answer. Comment: "Thank you very much! I have chosen this answer as it fits best in the context of the questionnaire. "
1 hr

s.u.

mit einem bevorzugten Broker getroffene Vereinbarungen (über Aufträge/über die Auftragsausführung)
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