Term used under German law (Section 1 (12) of the German Banking Act): Institutions that engage in proprietary trading, irrespective of whether this is performed as a service for third parties or not. All positions in financial instruments, tradable receivables and bonds held in the proprietary portfolio for the purpose of generating a profit on proprietary trading (result of own-account trading) by exploiting short-term price fluctuations and differences between buying and selling prices are therefore assigned to the trading book. – See Day trading.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/