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Stockjobber
Stockjobbers were institutions that acted as market makers in the London Stock Exchange. The business of stockjobbing emerged in the 1690s during England's Financial Revolution. During the 18th century, the jobbers attracted numerous critiques from Thomas Mortimer, Daniel Defoe Daniel Defoe (; born Daniel Foe; 1660 – 24 April 1731) was an English writer, merchant and spy. He is most famous for his novel ''Robinson Crusoe'', published in 1719, which is claimed to be second only to the Bible in its number of translati ... and others. These writers denounced the use of market manipulation and front running and regarded it as unethical that the jobbers made money without any interest in the stocks involved. The business survived repeated legislation to ban it and became institutionalised. Prior to the "Big Bang" deregulation of 1986, every stock traded on the exchange passed through a 'jobber's book', that is, they acted as the ultimate purchasers of shares sold and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wedd Durlacher
Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces its origins to the goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, twelve banks in London and the English provinces, including Goslings Bank, Backhouse's Bank and Gurney, Peckover and Company, united as a joint-stock bank under the name Barclays and Co. Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed the world's first cash dispenser. Barclays has made numerous corporate acquisitions, including of London, Provincial and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in 2000 and the North American operations of Lehman Brothers in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
7 Geo
7 (seven) is the natural number following 6 and preceding 8. It is the only prime number preceding a cube. As an early prime number in the series of positive integers, the number seven has symbolic associations in religion, mythology, superstition and philosophy. The seven classical planets resulted in seven being the number of days in a week. 7 is often considered lucky in Western culture and is often seen as highly symbolic. Evolution of the Arabic digit For early Brahmi numerals, 7 was written more or less in one stroke as a curve that looks like an uppercase vertically inverted (ᒉ). The western Arab peoples' main contribution was to make the longer line diagonal rather than straight, though they showed some tendencies to making the digit more rectilinear. The eastern Arab peoples developed the digit from a form that looked something like 6 to one that looked like an uppercase V. Both modern Arab forms influenced the European form, a two-stroke form consisting of a ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Front Running
Front running, also known as tailgating, is the practice of entering into an equity (stock) trade, option, futures contract, derivative, or security-based swap to capitalize on advance, nonpublic knowledge of a large ("block") pending transaction that will influence the price of the underlying security. In essence, it means the use of knowledge of an impending trade to engage in a personal or proprietary securities transaction in advance of that trade. Front running is considered a form of market manipulation in many markets. Cases typically involve individual brokers or brokerage firms trading stock in and out of undisclosed, unmonitored accounts of relatives or confederates. Institutional and individual investors may also commit a front running violation when they are privy to inside information. For example, unscrupulous employees with access to their firm’s order management system may engage in front running after observing consistent stock price movements in response t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The City Of London
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Bank
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". When expenditures and receipts are defined in terms of money, then the net monetary receipt in a time period is termed cash flow, while money received in a series of several time periods is termed cash flow stream. In finance, the purpose of investing is to generate a return on the invested asset. The return may consist of a capital gain (profit) or loss, realised if the investment is sold, unrealised capital appreciation (or depreciation) if yet unsold. It may also consist of periodic income such as dividends, interest, or rental income. The return may also include currency gains ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BBC News
BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs in the UK and around the world. The department is the world's largest broadcast news organisation and generates about 120 hours of radio and television output each day, as well as online news coverage. The service has over 5,500 journalists working across its output including in 50 foreign news bureaus where more than 250 foreign correspondents are stationed. Deborah Turness has been the CEO of news and current affairs since September 2022. In 2019, it was reported in an Ofcom report that the BBC spent £136m on news during the period April 2018 to March 2019. BBC News' domestic, global and online news divisions are housed within the largest live newsroom in Europe, in Broadcasting House in central London. Parliamentary coverage is produced and broadcast from studios in London. Through BBC English Regions, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Akroyd & Smithers
S. G. Warburg & Co. was a London-based investment bank. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. The firm was acquired by the Swiss Bank Corporation in 1995 and ultimately became a part of UBS. History Founding and early history This bank was founded in 1946 by Siegmund Warburg, Erich Körner and Henry Grunfeld. Siegmund was a member of the Warburg family, a prominent German-Jewish banking family. Erich Körner became an authorized signatory of Bank Winter & Co. AG in Vienna, Austria in 1921. Henry Grunfeld was a former industrialist in the German steel industry, and was also Jewish. Warburg and Grunfeld fled Nazi Germany in the 1930s. S. G. Warburg and Co. was recognised for its pioneering mergers and takeover work in the UK in the 1960s. These works included the first ever hostile takeover in the UK and the first-ever Eurobond issue, which fostered the new Eurodollar market. The firm's acquisition of Seligman Bros. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stockbrokers
A stockbroker is an individual or company that buys and sells stocks and other investments for a financial market participant in return for a commission, markup, or fee. In most countries they are regulated as a broker or broker-dealer and may need to hold a relevant license and may be a member of a stock exchange. They generally act as a financial advisor and investment manager. In this case they may also be licensed as a financial adviser such as a registered investment adviser (in the United States). Examples of professional designations held by individuals in this field, which affects the types of investments they are permitted to sell and the services they provide include chartered financial consultants, certified financial planners or chartered financial analysts (in the United States and UK), chartered financial planners (in the UK). In the United States, the Financial Industry Regulatory Authority provides an online tool designed to help understand professional de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Bang (financial Markets)
The phrase Big Bang, used in reference to the sudden deregulation of financial markets, was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange and change from open outcry to screen-based electronic trading, effected by UK Prime Minister Margaret Thatcher in 1986. History The Big Bang was the result of an agreement in 1983 by the Thatcher government and the London Stock Exchange to settle a wide-ranging antitrust case that had been initiated during the previous government by the Office of Fair Trading against the London Stock Exchange under the Restrictive Trade Practices Act 1956. These restrictive practices included the London Stock Exchange's rules establishing fixed minimum commissions, the "single capacity" rule (which enforced a separation between brokers acting as agents for their clients on commission and jobbers who made the markets and theoretically ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Manipulation
In economics and finance, market manipulation occurs when someone intentionally alters the supply or demand of a security to influence its price. This can involve spreading misleading information, executing misleading trades, or manipulating quotes and prices. Market manipulation is prohibited in most countries, in particular, it is prohibited in the United States under Section 9(a)(2) of the Securities Exchange Act of 1934, in the European Union under Article 12 of the ''Market Abuse Regulation'', in Australia under Section 1041A of the Corporations Act 2001, and in Israel under Section 54(a) of the securities act of 1968. In the US, market manipulation is also prohibited for wholesale electricity markets under Section 222 of the Federal Power Act and wholesale natural gas markets under Section 4A of the Natural Gas Act. Examples Pools Agreements, often written, among a group of traders to delegate authority to a single manager to trade in a specific stock for a work per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
10 Geo
1 (one, unit, unity) is a number, numeral, and glyph. It is the first and smallest positive integer of the infinite sequence of natural numbers. This fundamental property has led to its unique uses in other fields, ranging from science to sports, where it commonly denotes the first, leading, or top thing in a group. 1 is the unit of counting or measurement, a determiner for singular nouns, and a gender-neutral pronoun. Historically, the representation of 1 evolved from ancient Sumerian and Babylonian symbols to the modern Arabic numeral. In mathematics, 1 is the multiplicative identity, meaning that any number multiplied by 1 equals the same number. 1 is by convention not considered a prime number. In digital technology, 1 represents the "on" state in binary code, the foundation of computing. Philosophically, 1 symbolizes the ultimate reality or source of existence in various traditions. In mathematics The number 1 is the first natural number after 0. Each natural number ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daniel Defoe
Daniel Defoe (; born Daniel Foe; 1660 – 24 April 1731) was an English writer, merchant and spy. He is most famous for his novel ''Robinson Crusoe'', published in 1719, which is claimed to be second only to the Bible in its number of translations. He has been seen as one of the earliest proponents of the English novel, and helped to popularise the form in Britain with others such as Aphra Behn and Samuel Richardson. Defoe wrote many political tracts, was often in trouble with the authorities, and spent a period in prison. Intellectuals and political leaders paid attention to his fresh ideas and sometimes consulted him. Defoe was a prolific and versatile writer, producing more than three hundred works—books, pamphlets, and journals—on diverse topics, including politics, crime, religion, marriage, psychology and the supernatural. He was also a pioneer of business journalism and economic journalism. Early life Daniel Foe was probably born in Fore Street, London, Fore Street ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
