BROKER

The broker from German - the intermediary at the conclusion of transactions on the stock, commodity and currency exchanges; business man providing any intermediary services for a fee.

The broker's profession appeared in Russia along with the first stock exchanges. In many cases, the broker's job is that he registers transactions between brokers and monitors the strict observance of all rules when concluding this transaction. In this case, it is implied that the trade takes place “with a voice”, i.e. Brokers voice submit applications for the purchase or sale. At the same time, the broker should immediately see both brokers, and when they confirm the rushes (let's say, like at MTB, the brokers showed their ID cards and loudly announced the “deal”) registers it. In this case, the broker is the direct representative of the exchange.

Technology deals are not some kind of standard procedure and may be on different exchanges in different ways. Nevertheless, the broker's role remains very important even in electronic trading systems. So, on the Russian Stock Exchange in the trading system, brokers can submit orders either “by voice” or by computer. At the same time, the broker not only registers transactions “by voice”, but also participates in the settlement of disputable situations that inevitably arise as a result of various errors. It should be noted here that a lot can depend on the broker’s decisions. By registering or rejecting one or another transaction, the broker practically manages amounts in tens, or even hundreds of thousands of dollars (on the western stock exchanges can be about millions of dollars), and here it is very important to follow the rules of exchange trading and avoid mistakes.

Therefore, a real broker should have good nerves. On his business qualities depends on the normal course of trading and, accordingly, the work of the entire exchange. So, at MTB, where more than a hundred brokers participated in the auction, and several thousand transactions were made during the day, the broker remembered all the brokers by heart and accurately found those who were making deals at the moment in the general crowd. But even excellent professional qualities will not help to avoid conflict situations, and the constant disputes of brokers with brokers are a common situation for Russian stock exchanges, especially when it comes to thousands of dollars. For example, the Republic of Belarus was forced to impose a penalty for insulting a broker in the amount of about $ 200, with the possible removal of the broker from the auction.

Of course, with the spread of the electronic trading system, the functions of the broker are increasingly moving to a computer, but on the largest exchanges people still trust more. Broker's salary before the crisis ranged from $ 800 to $ 2500, depending on the stock exchange. As a rule, the exchange itself is engaged in training such specialists. On Western markets, the broker's monthly salary can reach tens of thousands of dollars.