Certificates of Deposit issued by banks, but offered through brokerage firms rather than directly by the issuing banks. These firms can select from a variety of bank-issued CDs with different maturities and interest rates. CDs are negotiable instruments that pay a stated amount of interest on the maturity date, but can be bought and sold daily in the secondary market.
A large- denomination CD sold by a bank to a brokerage, which then divides it into smaller pieces for sale to its customers.
a certificate of deposit sold by a middleman, called a broker