A system of trading on a stock exchange in which the functions of stockbroker and stockjobber are carried out by separate firms. Dual capacity existed on the London Stock Exchange prior to October 1986 when a single-capacity system was introduced.
A market maker is a dealer in securities introducing liquidity to the market by buying and selling as a principal and setting prices for transactions.
A stockjobber is an outdated term that refers to a professional trader who buys and sells stocks for their own account, not for clients. This term was more commonly used in historical contexts related to stock trading.
