See: Interbank. See: Interbank Network for Electronic Transfer - INET.
MasterCard is one of the big credit card companies. It uses a network of banks to facilitate its transactions, a group of finance partners connected by a sophisticated telecommunications network that allows you to use your MasterCard to buy something in Istanbul and have the transaction get processed nearly instantly, even though the card is issued out of St. Louis.
The Interbank National Authorization System, or INAS, is the version of this network that was used by MasterCard International. There was a separate U.S. version called Interbank Network for Electronic Transfer, or INET, used by MasterCard.
The two networks (INAS and INET) have been combined into a single network called Banknet.
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Finance a la shmoop.. what is a broker-dealer? It's one of [Homeless guys holding help signs]
these guys who's making less than minimum wage right no that'd be a broke
dealer and you won't find too many of them in Lake Tahoe but yeah a broker is [Man talking about broker-dealers in Lake Tahoe]
just someone who takes a commission for selling stuff they live wherever there
are transactions in cars, boats, planes, homes and securities like stocks and
bonds so yeah it's a broker - dealer sort of like a writer-director
sexual deviant in Hollywood... Key takeaway here the broker dealer brokers
securities ie they take a commission and they deal in securities like they carry [People playing blackjack]
their own inventory of ten million shares of Amazon this week's selling
them for twelve hundred ninety dollars and 32 cents a share and buying them for
twelve hundred eighty eight dollars seventy nine cents a share making a
spread of...
equals a dollar fifty-three a share the dealer makes a spread of a buck fifty [Dealer and market transferring cash and stock]
three every time she trades a share of the Walmart killing behemoth yeah it's
sort of a Goliath slaying Goliath story there that Amazon Walmart thing we're
watching it so think about broker-dealer making money on both sides of the trades
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