• A dealer at the market who buys and sells securities on behalf of the public investors.

  • He is an agent of investors

  • He is the only authorized person to deal with the quoted securities. He is authorized by CMA and NSE

  • He obtains the suitable deal for his clients/investors, gives financial advice and charges commission for his services.

  • He doesn’t buy or sell shares in his own right hence he cannot be a market marker.

  • He must maintain standards set by the stock exchange.


  • This is a dealer who trades in securities in his own right as a principal.

  • He can set prices and activate the market through his own buying and selling hence he is a market maker.

  • He engages in speculation and earns profit called Jobbers’ turn (selling price – buying price).

  • He does not deal with members of the public unlike brokers. However, brokers can buy and sell shares through jobbers.