The business of buying, selling, and trading bills of exchange (financial documents representing debt) between banks and financial institutions.
From 'bill' (of exchange, a financial instrument) + 'broking' (the act of brokerage). This financial term describes the intermediary trade in negotiable debt instruments.
Before modern banking, billbrokers were the middlemen who moved money across countries by trading pieces of paper that promised payment—they're the ancestors of today's currency traders!
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