2017 NAICS Definition

T = Canadian, Mexican, and United States industries are comparable.

523110 Investment Banking and Securities Dealing

This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers.

Illustrative Examples:

Bond dealing (i.e., acting as a principal in dealing securities to investors)
Stock options dealing
Securities underwriting


Cross-References.
  • Establishments primarily engaged in acting as agents (i.e., brokers) in buying or selling securities on a commission or transaction fee basis are classified in Industry 523120, Securities Brokerage; and
  • Investment clubs or individual investors primarily engaged in buying or selling financial contracts (e.g., securities) on their own account are classified in Industry 523910, Miscellaneous Intermediation.
2007
NAICS		   2012
NAICS		   2017
NAICS		   Corresponding Index
Entries
523110   523110   523110   Banking, investment
523110   523110   523110   Bond dealing (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Commercial paper dealing (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Investment banking
523110   523110   523110   Making markets for securities
523110   523110   523110   Market making for securities
523110   523110   523110   Paper, dealing of commercial (i.e., acting as principal in dealing securities to investors)
523110   523110   523110   Securities dealers (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Securities dealing (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Securities distributing (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Securities floor traders (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Securities flotation companies
523110   523110   523110   Securities originating (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Securities trading (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Securities underwriting
523110   523110   523110   Stock options dealing (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Trading securities (i.e., acting as a principal in dealing securities to investors)
523110   523110   523110   Underwriting securities