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Simple English definitions for legal terms
stockjobber
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A quick definition of stockjobber:
A stockjobber is someone who helps brokers exchange securities. They are like a middleman between the brokers. They buy and sell stocks for the brokers. It's like a game of trading cards, but with money. They are also sometimes called a stock-jobber.
A more thorough explanation:
A stockjobber is a middleman in the exchange of securities among brokers. They buy and sell stocks on behalf of others, usually for a commission.
For example, if a broker wants to buy 100 shares of Apple stock for their client, they may go to a stockjobber who has access to the stock exchange and can make the purchase on their behalf. The stockjobber may charge a fee for their services.
Another example of a jobber is a wholesaler who buys products from a manufacturer and sells them to a retailer. For instance, a clothing manufacturer may sell their products to a jobber who then sells them to a department store.
Overall, a stockjobber is a type of middleman who facilitates the buying and selling of securities among brokers.