（交易）代理商

Agents act as brokers/intermediaries by buying and selling securities on behalf of their clients. As explained earlier, agents can act in various capacities. Agents make money by charging a commission for executing a client order. They are not permitted to charge a mark-up on prices quoted by third parties, such as market makers and traders, in the market. Commission charges may vary depending on the client. For instance, lower charges may be applied to institutional trades, as the average size of such trades is generally much larger than that of retail investor trades. Agents may also provide custodial services to their clients for a fee.