Finans
Jobber (Borsa Jobber'i)
İngilizce: jobber
Türkçe Tanım
Londra Borsasi'nin 1986 Big Bang reformu oncesindeki tek-sifat sisteminde, kendi hesabina alim satim yaparak piyasa yapiciligi ustlenen ve yalnizca komisyoncularla (broker) islem goren, halka dogrudan hizmet vermeyen aracidir. Broker musteri adina, jobber ise principal olarak hareket eder; bu ayrim menfaat catismasini yapisal olarak sinirlar. Reform bu ayrimin kaldirilarak coklu-sifat sistemine gecmesiyle jobber unvani tarihe karismis, islevi modern piyasa yapicilarina devrolmustur. Terimin bugunku onemi, bir aracinin principal mi yoksa agent mi hareket ettigi ayrimini ve bunun fiyatlama ile sorumlulukta yarattigi farki hatirlatmasidir.
English Definition
In the single-capacity system of the London Stock Exchange before the 1986 Big Bang reform, an intermediary who made markets by dealing on its own account and traded only with brokers rather than serving the public directly. A broker acted as agent for the client while a jobber acted as principal, a distinction that structurally limited the conflict of interest. The reform abolished that separation in favor of dual capacity, so the title passed into history and its function was absorbed by modern market makers. The term's present value lies in recalling the principal-versus-agent distinction and the difference it makes to pricing and responsibility.