Stockjobber

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Stockjobbers were institutions that acted as market makers in the London Stock Exchange. Prior to "Big Bang" in 1986, every stock traded on the Exchange passed through a jobber's book, where they acted as intermediaries between stockbrokers, who were in turn not permitted to be market makers.[1]

Immediately prior to the Big Bang, the leading jobbing firms were Akroyd & Smithers, Wedd Durlacher, Pinchin Denny, Smith Brothers, Bisgood Bishop and Charles Pulley.[2] All of these firms were acquired after the Big Bang by a number of different investment banks and other financial institutions.

References[edit]

  1. ^ Philip Auger (2000). The Death of Gentlemanly Capitalism. Penguin. 
  2. ^ "London insiders remember Big Bang". BBC. October 26, 2006.