In the German-speaking countries the designation , or also only to brokers, is located for a mediator, who implements stock broking at the stock exchange. Becomes between official brokers (also stockbroker called) and free brokers differentiated.

Official broker (stockbroker)

Official brokers became from the respective authority of a country, which is responsible for the supervision by the stock exchange committee, certainly and sworn in. Their task consisted of it, securities from the assigned segments both on stranger obtaining as well as on own calculation and determining the course (stock exchange price) in this way.

Since that 3. Financial market promotion law is not differentiated no more between official and free Rather there are now only to stock exchange dealer, which act only with effects, and who place courses. can care for both official and securities of the regulated market and the Freiverkehrs. The reason for the transition lies among other things in the outstanding monitoring and regimentation of the stock exchange enterprise by the commercial supervisory body of the stock exchange the office for federal prospect for financial services (BaFin) and the stock exchange authority of the respective Land of the Federal Republic. The designation is however maintained because of the commonness.

Free broker

Free brokers determine only the courses of the securities acted in the Freiverkehr. They may act with all securities of the official market, whereby the emphasis of their acting lies on the regulated market and in the Freiverkehr. The permission to the free broker takes place via the stock exchange executive committee.

Vocational entrance

The occupation of the is strongly regulated. In order to receive a permission to the market, it does not only require a sufficient vocational qualification, thus an appropriate professional training as well as practical experience. Requires just as financial means or at least collateral in the form of endorsements.

Stock exchange broker language

For the avoidance of misunderstandings the and stock exchange dealer speak a their own, minutes well-behaved language, in combination with gesturing with individual fingers and/or the whole hand, which give to understand the verbal expressed synchronously.

Bi-directional communication always consists of an action (purchase, sales, etc.) and one confirmation of the respective counterpart. Thus always a to you follows with that business legally effective comes after a purchase with the call of you. Apart from the kinds of main business also additional information and restrictions are mittgeteit. A wrong application of the broker language knows consequence-fraught consequences, speaks losses, conversion discrepancies or depot tuning differences to pull.

Finger gesturing is central, because must be assumed not all market participants can understand the offers acoustically. Often only visual contact between the individual dealers exists. Over over larger distances of over 5 meters nevertheless trades to lock therefore often acoustically nothing at all will separate belonged exclusively by Handzeichen gesettled. The Handzeichen are considered to that as obligatory and absolutely equivalently as a trade verbal were locked. Each trade (purchase or sales) is noted afterwards either by the dealer or the stock exchange writer. Adjusted after commercial conclusion the positions via the stock exchange administrators of the banks or brokers, often until late into the night to the depots and individual items to be correct with one another. This tuning takes place by telephone or personally; often also with the end of workday beer of the dealers under itself.

Kinds of main business:

• Of you - purchase
• To you - selling
• Money - buy-back course
• Letter - selling rate

Examples

• Siemens 90 too, 50: Dealer: With 90,5 1000 of you! - > brokers: 1000 to you with 90,5
• UBS 52 money!: Dealer has money and e.g. pays an offerer for UBS titles. 252, -
• CS 20 letter!: Dealer looks for buyers for Credit Suisse title to 120, -
• In the money its: Entirely the dealer moves at present in the profit area
• Thirteen: Change of index or change of course of 3%; Three tenths
• Applizieren 20: Connection purchase, supplementing, too e.g. to it-buy. 120, -

See also:

• Broker, Trader, broker

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