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TeachMeFinance.com - explain For your account historic definition... For your account -- When a broker on the New York Stock Exchange executes an order for another broker who is to receive or deliver the stock, as the case may be, he "gives up" to the broker with whom he makes the transaction the name of his principal (the broker for whom he is acting). If the broker to whom he has sold or from whom he has bought does not wish to accept the name given up to him he says "for your account" and the broker who was acting for a person other than himself is himself obliged to assume the contract. A rule of the exchange is that no broker shall be compelled to accept a principal other than the broker offering to contract, unless the broker so offering shall in making the offer declare the name of the person wh'om he proposes to substitute for himself. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.