Jobber

A jobber is a broker’s broker or one who specialises in specific securities catering to the need of other brokers—in India also known as ‘Taravaniwallah’ (in the BSE).7 A jobber is located at a particular trading post on the floor of the stock exchange and does buying and selling for small price differences, called the spread. He has no contact with the investing public.

In the London Stock Exchange he is called a market-maker while in the New York Stock Exchange he is called a specialist. The Bombay Stock Exchange has made it mandatory for every company with a share capital of over Rs. 3 crore to appoint jobbers or market-makers if it seeks enlistment. Such an arrangement enables investors to buy and sell shares on the stock exchange and thus liquidity increases.