Glossary of ‘Financial Terms’ starting with Alphabet ‘J’, i.e. ‘Meaning’ or ‘Definition’ of Common and Unusual terms relating to Accounting, Auditing, Company Law, GST, Income Tax, Investments, etc., along with the ‘Context’ in which they are used.
Describes a situation where one broker who has direct access to a stock exchange performs trades for a broker who does not have access. A fraudulent activity in the penny stock market. It occurs when two brokers work together by trading a stock back and forth to rack up commissions and give the impression of trading volume.For example, in the first definition, a small firm whose volume of business is not sufficient to maintain a trader on the exchange would give its orders to a large dealer for execution.In the second definition, jitney or “the jitney game” is basically the same thing as circular trading.
Member brokers of a stock exchange who specialize, by giving two way quotations, in buying and selling of securities from and to fellow members. Jobbers do not have any direct contact with the public but they serve the useful function of imparting liquidity to the market.
The difference between the price at which a jobber is prepared to sell and the price at which he is prepared to buy. A large difference reflects an imbalance between supply and demand.
Jumbo Bonds (U.S)
A certificate of deposit issued by a bank or savings and loan association for a huge amount usually for a period of a year or less.
High yield bond issued by low rated companies.