government broker

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The senior broker appointed by the Bank of England to sell government securities on the London Stock Exchange. The government broker is also the broker to the National Debt Commissioners (see national debt). Until October 1986 (see Big Bang) the government broker was traditionally the senior partner of Mullins & Co. Since then, however, he or she has been appointed from the gilt-edged division of the Bank of England; many of the functions formerly carried out by the government broker are now undertaken by the gilt-edged market makers.

Subjects: Financial Institutions and Services.

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