Privilege Dealer

A “privilege dealer” is the same thing as an options dealer. That’s it. Nothing fancy. Nothing to do with special privileges or exclusive back-room deals or anything like that.

Basically, in order to be a real-deal privilege dealer, a broker or brokerage firm has to be registered as such. They deal with options, futures, and listed equity options contracts, and they have to comply with some pretty stiff SEC rules and regs.