11.   The customer still makes the order, and a licensed broker must execute it.

12.   The office was supposed to have fewer than five licensed brokers.

13.   The retired insurance salesman flunked his first exam, although he eventually became a licensed broker.

14.   They said that many consumers were then forced to paying more for tickets on the black market than to licensed brokers during the experiment.

15.   We go through licensed brokers for theater tickets.

16.   With more licensed brokers, they say, competition has increased.

17.   Besides, all directors of securities firms must be licensed brokers.

18.   Even after modernizing, the exchange still has too few licensed brokers and still is bogged down with paper stock certificates.

19.   It eliminates cumbersome prior approval by the government and, permit-purchases through licensed brokers as well as setting ownership limits.

20.   CMA chairman Leo Kibirango said on Thursday that they would start with a small number of licensed brokers as business on the stock market would initially be slow.