What is the difference between dealer and broker ?
@Anshul_Mittal1 : to the best of my knowledge there is no regulatory word/ assignment as dealer in stock market but only broker or member . however need more informed views.
Dealer of shares may be a reference to somebody who deals in shares unlisted ,or delisted shares.
In common Stock market parlance, a broker is an entity/company, also a member of a recognized Stock Exchange where you’ve opened your trading & demat account. A dealer is an employee of the Stock broker firm whose primary role is to place orders using a dealer terminal provided to him (upon his clearing certain certification modules from NISM). A dealer terminal has multiple clients mapped and essentially allows a dealer to place orders for any of the mapped clients.
Section 17 of SCRA act mentions dealer.