Jobber or Taravaniwallah

What is Jobber or Taravaniwallah.?

Jobber of Trainwallah is an individual who deals in shares and can be found at a specific trading post on the floor of a stock exchange. He usually purchases as well as sells for a very small difference in price, known as the Spread. For example, if he bids at INR 60/, it will imply that he will purchase the share at INR 60/ and sell it INR62/, thereby making a profit of INR 2/ per share.
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The moniker may vary from market to market – for example, in London Stock Exchange, he is known as market-maker, whereas in New York, he is commonly referred to as a Specialist. A Jobber of Trainwallah usually does not have any contact with investing public.

The existing guidelines of the Bombay Stock Exchange states that for any company with a share capital of more than 3 crores, it is mandatory to appoint jobbers (if the company seeks enlistment).

Edited and Updated 15th February 2014

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