jobber
Quick Summary
On the London Stock Exchange, a jobber (also known as a stockjobber) is a member who deals speculatively in securities. Jobbers transact business on the exchange floor but do not deal directly with the public. Instead, they buy and sell for their own account, interacting only with brokers or other jobbers.12
When a customer places an order with a brokerage house, the order is relayed to the floor. The broker then seeks out a jobber specializing in that particular security. The jobber provides current buying and selling prices, aiming to profit from the spread between them. This system provides a continuous market, though jobbers are not obligated to support prices like specialists on the New York Stock Exchange.1
Ask Britannica AI about this topic
Britannica doesn't have a full article on this topic, so we've curated a list of our relevant coverage.
