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When an institution wishes to take a large position in a municipal bond issue but does not want its activities to be well known, it will generally make use of: A municipal securities broker's broker.

An institution is a large important organization such as a university, church, or bank. An institution is a social structure in which people cooperate and which influences the behavior of people and the way they live.

institutions include the family, education, government, religion, and the economy. Institutions contribute to stability, especially in times of uncertainty, and help anchor expectations.

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