bill-broker
Definition
- Noun:
- A person who trades in bills of exchange: A "bill-broker" is an individual or intermediary who buys and sells bills of exchange, often acting as a middleman between parties needing short-term credit and those with surplus funds. This role is common in financial markets, particularly in discount houses.
Usage Examples
- (The intermediary arranged a reduced price for the short-term debt instrument.)
- (They help banks manage cash flow by trading short-term financial instruments.)
Advanced Usage
"Bill-broker's discount": The rate at which a bill-broker purchases a bill of exchange before its maturity date, earning a profit from the difference.
- The company accepted the bill-broker's discount of 5% to obtain immediate cash. (They sold the bill at a reduced price to get money quickly.)
"Bill-brokerage": The fee or commission charged by a bill-broker for their services.
- The bill-brokerage amounted to 1% of the face value of the bills traded. (The service fee was one percent of the bills' total worth.)
Variants and Related Words
Bill-broking (n): the business or activity of being a bill-broker.
- He entered the field of bill-broking after studying finance. (He started working as a broker of bills of exchange.)
Broker (n): a more general term for an agent who arranges transactions between buyers and sellers.
- A real estate broker helps clients buy and sell property. (A broker in a different market.)
Synonyms
- Discount broker: a broker who specializes in buying and selling bills of exchange at a discount.
- Bill dealer: an alternative term for a bill-broker, especially in British English.
Related Idioms
- There are no common idioms directly involving "bill-broker," as it is a specialized financial term. However, the related term "discount the bill" means to sell a bill of exchange before its maturity at a reduced price.
- The trader decided to discount the bill with a broker to cover urgent expenses. (Sell the bill early for less than its full value.)