Stock broker
In German-speaking countries is the name stockbroker, or even broker for a broker that executes on the stock exchange securities transactions. This is (also called exchange broker ) distinguished between official and free agents, brokers.
Official brokers ( brokers price )
Official brokers ( in Austria: Brokers ) were determined and sworn in by the relevant authority of a country that is responsible for the Securities and Exchange Commission. Their task was to convey securities from the assigned segments on both foreign as well as on their own account and to determine in this way the price ( market price ).
Since 3 Financial Market Promotion Act 1998, no distinction between official and independent brokers. Rather, there are now market traders who trade only with effects, and lead brokers that provide courses. This can lead brokers both official as well as supervise securities of the regulated market and the open market. The reason for the transition is partly in the supervision and regulation of stock market operations through the Trading Surveillance Office of Exchange ( Market Surveillance ), the German Federal Financial Supervisory Authority (BaFin ) and the stock market authority of the respective country. The term stockbroker is maintained because of fluency.
Free broker
Free broker identify only the prices of OTC securities. You may trade in all securities of the official market, with the focus of its activities is on the regulated market and the open market. Admission to independent brokers made by the Exchange Board of Directors.
Professional entry
The job of a stock broker is heavily regulated. In order to obtain an authorization to market, not only a sufficient professional qualifications, so an appropriate vocational training and practical experience is required. It would also be necessary financial means or at least collateral in the form of guarantees.
Language exchange
To avoid misunderstandings, talk stockbroker stockbroker own, protocol -like language, in combination with gestures with individual fingers and / or the whole hand, which is to understand the verbal Expressed in sync.
Two-way communication is always made up of an action ( purchase, sale, etc. ) and a confirmation of the respective counterparts. So on a purchase with the exclamation from you so that always follows a To you the business legal effect comes. In addition to the main business types, additional information and restrictions are reported. Incorrect use of the realtors language can serious consequences, ie result in losses, exchange rate differences or custodian reconciliation differences by themselves.
The Fingergestik is therefore essential, as must be assumed that not all market participants to understand the deals acoustically. Often there is only visual contact between the individual traders. In order to nevertheless conclude trades over longer distances of about 5 meters, is therefore often acoustically heard nothing, but only gesettled by show of hands. The hands are binding and absolutely equal as a trade, which was concluded verbally. Each trade (buy or sell ) is then recorded either by the distributor itself or the ticker. After the close of trading positions by the Exchange Administrator for the banks or brokers are compared with each other, until the deposit and individual items vote until late into the night. This coordination is done by phone or in person; often the beer after the dealer among themselves.
Main business areas:
- From you - Buy
- To you - Sell
- Money - Repurchase Price
- Letter - Sale price
Examples
- Siemens to 90.50: Dealer: With 90.5 1000 from you! → brokers: 1000 to you with 90.5
- ! UBS 252 Money: merchant has money and pays a provider for UBS title, such as 252 -
- ! CS 120 Letter: Dealer seeking buyers for Credit Suisse - title to 120, -
- Being in the money: Overall, the dealer moves currently in profit
- Three - Ten: index change or price change of 30 %; Three tenths
- Applying 20: Connection purchase, stocking up to buy, for example, 130 -
- How Daimler? , 50, 55! Good for 500? Yes. Ok with 500, 55 of you ... to you!