Making a market. The jobbers of the London Stock Exchange, 1800–1986

This article juxtaposes two bodies of oral evidence collected in 1877–78 and 1989–91 respectively to explore the dynamics of the London Stock Exchange as a physical market. The analysis highlights the long-run continuities in the pattern, organisation and culture of trading activity. In particular,...

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Bibliographic Details
Published in:Financial history review 2000-04, Vol.7 (1), p.5-24
Main Author: ATTARD, BERNARD
Format: Article
Language:English
Subjects:
Banking
Economic history
England
Financial history
London
Profit
Risk
Stock exchange
Trade
United Kingdom
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Summary:This article juxtaposes two bodies of oral evidence collected in 1877–78 and 1989–91 respectively to explore the dynamics of the London Stock Exchange as a physical market. The analysis highlights the long-run continuities in the pattern, organisation and culture of trading activity. In particular, it emphasises the necessity experienced by market makers (known as jobbers) to adapt to the demands of a highly visible trading environment. More broadly, further evidence is provided of the nature and diversity of trade relationships, economic exchange and price creation.
ISSN:0968-5650
1474-0052
DOI:10.1017/S0968565000000019