Broker-Dealer

Does Your AI Trading Agent Need to Register as a Broker-Dealer?

When an AI agent executes trades for other people, the 1934 Act asks one thing: for whose account? An agent that effects transactions for someone else's account is a broker and generally must register; one that trades its own account may be an exempt 'trader,' and one that matches other users' orders can become an exchange. Autonomy does not change which hat you wear.