BANKING AFFAIRS

Detailed explanation-1: -Which of the following is most similar to a stock broker? Notes: A futures commission merchant (FCM) is an entity that solicits or accepts orders to buy or sell futures contracts, options on futures, retail off-exchange forex contracts or swaps, and accepts money or other assets from customers to support such orders.

Detailed explanation-2: -Investment Banker These bankers act as intermediaries between businesses and investors. Businesses raise capital by selling securities, while investors buy securities to make a profit.

Detailed explanation-3: -A FCM may extend credit or accept money, securities, or property to margin, guarantee, or secure any trades or contracts resulting from its solicitation, acceptance, or execution of orders. A FCM may act as intermediary between a customer and exchange members that actually execute or clear trades.

Detailed explanation-4: -A futures commission merchant (FCM) is an entity that solicits or accepts orders to buy or sell futures contracts, options on futures, retail off-exchange forex contracts or swaps, and accepts money or other assets from customers to support such orders.