The different aspects of business Broker On Line

In order to operate an online broker must obtain permission from stock market authorities or bank.

Depending on the approvals obtained from both sides, the online brokers can have the same number of trades:

Collector orders it collects orders from its customers and delivering them to a negotiator. They must obtain approval from the Financial Markets Authority to open accounts on behalf of its clients.
The countervailing: establishment carrying out settlement and delivery of securities to buyers and sellers once the orders executed by the trader.
Negotiator: credit institution or investment firm member of Euronext. This gives him the right to execute orders to buy and sell.
The transmitter orders service that sends orders to the collectors of orders or negotiator.He can not open accounts on behalf of its customers, or receive securities or cash. In this case, the accounts can be opened with the collection of orders.
The account holder: it is entitled to receive money. It verifies the identity of the client and entered into account the transactions on the cash accounts of its customers.
The conservatives, he will manage the securities of its clients, processing securities transactions, and edit various statements (statements portfolio Printed single tax, etc.)..

These trades can also be contracted out to banks or financial groups.

Each broker on line states on its website the various operators who interact in the management of your portfolio. Thus, some brokers simply place your orders while others control the entire chain.