Um...one who...jobs?
When we invest in financial markets, we probably do it through a broker. Or, if we’re savvy, maybe we go it alone.
But who do the brokers go through? Where do they go to buy and sell securities for all of their clients?
The answer is jobbers, who basically act as wholesale retailers of financial securities. “Jobbers” is a slang term that originated in London a couple centuries ago, and we like it because it reminds us of Jabba the Hutt, which reminds us of the greatest Star Wars movie ever. But we digress.
The term “jobber” refers to a person or company who not only participates in the London Stock Exchange, but also buys and sells those same securities on its own books. In other words, they do their own investing and act as an agent for other investment brokers. They buy and sell securities to brokers using a small spread system; they try and make a wee bit o’ cash on every transaction, and over time, those wee bits can add up to hefty chunks of change. Plus, since they’re so dialed into their markets, they can get transactions done much faster than individual brokers, which makes everyone happy.
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Finance: What is a Floor Broker v. Floor...13 Views
Finance allah shmoop What is ah floor broker versus a
floor trader All right Well here's a floor fixer and
here's a floor broker but okay Shocking a floor broker
Brokers stocks on the floor of a stock exchange Right
Well here's the new york stock exchange here's its floor
These guys down here they're floor brokers That is they're
trading stocks and other securities on behalf of their clients
Basically this is the scene from trading places with eddie
murphy Great old film Old rich white guys in a
building up here Call down to their guys on the
floor who execute their bidding All right well it's a
bunch of brokers all trading their clients stocks right here
and here And here and here and here all over
the world within among each other So that money is
well pushed around thoroughly like that Cato's in grandma's hash
browns recipe Note that a floor broker is different from
a floor trader Who although he or she works on
the floor of an exchange also makes trades as a
principal for his or her own account So yeah that's
floor broker No jackhammer required Thank you very much Go
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