Jobber
What it is:
Jobber is a slang term for an agent in business, particularly trading.
How it works/Example:
In the broadest sense of the word, a jobber is an individual who makes a living from commissions he/she earns as an agent for transactions between two parties. In this respect, a jobber might sell merchandise produced by someone else or hire himself out for various types of short-term work.
In the London Stock Exchange, a jobber is equivalent to a market maker -- a broker who is prepared to buy and sell stocks at highly competitive prices on behalf of market participants.
Why it matters:
Jobbers make the process of trading shares on the London Stock Exchange more efficient. Jobbers buy and sell their own inventory of securities to investors. Because jobbers can offer relatively fast transactions and the most current share prices to traders, they make trades happen faster and therefore make the market more liquid.