Get Form 151

A prime brokerage agreement sets forth the terms and conditions pursuant to which a prime broker will open and maintain accounts for margin, execution, clearing and settlement and custody for a client. Prime brokerage arrangements may also include securities financing.

An introducing broker (IB) is a broker in the futures markets who has a direct relationship with a client, but delegates the work of the floor operation and trade execution to another futures merchant, typically a futures commission merchant (FCM).

An introducing broker (IB) is an individual or organization that solicits or accepts orders to buy or sell futures contracts, commodity options, retail off-exchange forex contracts, or swaps but does not accept money or other assets from customers to support these orders.

Executing Broker means a broker that merely buys and sells shares on behalf of clients. The broker does not give advice to clients on when to buy or sell shares; Sample 1Sample 2.

Use the Authorized Representative Declaration (Power of Attorney) (Form 151) to authorize the Michigan Department of Treasury (Treasury) to communicate with a named individual or entity acting on your behalf.

Introducing Broker vs Clearing Broker vs Executing Broker An introducing broker introduces the client to a clearing broker. The clearing broker handles the trade and manages the account. In contrast, an executing broker processes buy orders and sell orders. An IB delegates the work to different brokers.

Purpose. Use the Authorized Representative Declaration (Power of Attorney) (Form 151) to authorize the Michigan Department of Treasury (Treasury) to communicate with a named individual or entity acting on your behalf.

A prime brokerage agreement sets forth the terms and conditions pursuant to which a prime broker will open and maintain accounts for margin, execution, clearing and settlement and custody for a client. Prime brokerage arrangements may also include securities financing.

A Michigan tax power of attorney (Form 151), otherwise known as the “authorized representative declaration,” is used to appoint someone, usually a tax attorney or certified public accountant, to represent another person at the Michigan Department of Treasury.