AskDefine | Define stockjobber

Dictionary Definition

stockjobber n : one who deals only with brokers or other jobbers

User Contributed Dictionary

English

Noun

  1. A stock-exchange operator who deals only with brokers. The term was also applied to a stockbroker, especially an unscrupulous one.

Extensive Definition

Stockjobbers were institutions that acted as market makers in the London Stock Exchange. Prior to the "Big Bang" in 1986, every stock traded on the Exchange passed through a jobber's book, where they acted as intermediaries between stockbrokers. Immediately prior to the Big Bang, the leading jobbing firms were Akroyd & Smithers, Wedd Durlacher, Pinchin Denny, Smith Brothers, Bisgood Bishop and Charles Pulley.

References

  • Philip Auger, The Death of Gentlemanly Capitalism (Penguin: 2000)
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