Trader has to rely on financial institution (8,4)
I believe the answer is:
merchant bank
'financial institution' is the definition.
(merchant bank is a kind of financial institution)
'trader has to rely' is the wordplay.
'trader' becomes 'merchant' (I've seen this before**).
'has' says to put letters next to each other.
'to rely' becomes 'bank'.
'merchant'+'bank'='MERCHANT BANK'
'on' is the link.
(Another definition for merchant bank that I've seen is " Financial institution (not in the High Street)".)
I've seen this clue in The Telegraph.
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