Franchise Broker Association

broker association
Two or more exchange members who (1) share responsibility for executing customer orders; (2) have access to each other's unfilled customer orders as a result of common employment or other types of relationships; or (3) share profits or losses associated with their brokerage or trading activity.

franchise
An authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products
An authorization given by a league to own a sports team
an authorization to sell a company's goods or services in a particular place
A business or service given such authorization to operate
grant a franchise to
a statutory right or privilege granted to a person or group by a government (especially the rights of citizenship and the right to vote)