What Is a Listing Broker?

Expert brokers are also called "professional brokers" and "professional securities dealers". They both accept the commission commission of brokers or dealers to buy and sell securities, and they also buy and sell securities for themselves, so they have the dual status of brokers and dealers. It is named because it specializes in trading specific types of securities at fixed locations within the exchange. Its role is twofold: one is to act as a broker, assist other commission brokers to execute the client's entrustment and become a broker's broker; the other is to act as a dealer, fixedly engaging in the trading of specific types of securities, buying through low prices and Sell at a high price for your own profit. Throughout the entire transaction process, it is also responsible for maintaining stable prices and balancing supply and demand. ^[1]

Expert broker

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Expert brokers are also called "professional brokers" and "professional securities dealers". They both accept the commission commission of brokers or dealers to buy and sell securities, and they also buy and sell securities for themselves, so they have the dual status of brokers and dealers. It is named because it specializes in trading specific types of securities at fixed locations within the exchange. Its role is twofold: one is to act as a broker, assist other commission brokers to execute the client's entrustment and become a broker's broker; the other is to act as a dealer, fixedly engaging in the trading of specific types of securities, buying through low prices and Sell at a high price for your own profit. Throughout the entire transaction process, it is also responsible for maintaining stable prices and balancing supply and demand. ^[1]

Expert brokers mainly have the following two functions: one is to organize market transactions, and expert brokers accept

An expert broker (specialist) is a special member designated by the stock exchange. Its main responsibility is to maintain a fair and orderly market, that is, to provide market liquidity for its franchised stock transactions and to maintain price continuity and stability.

Expert brokers organize market transactions

On the New York Stock Exchange, a trading post is a trading center for a particular stock or types of stocks. Expert brokers are the masters of these trading stations. All stock transactions are conducted in the organization of expert brokers, When completed with assistance or participation, when the market is opened daily or resumed after the market is closed, the expert brokers organize a centralized bidding to generate the opening price of their franchised stocks. Thereafter, the continuous bidding process should be organized. Expert brokers accept declarations of securities dealers' purchases and sales, and determine the continuous bidding and selling prices of franchised stocks in accordance with the rules of the exchange as the effective bidding range of the market. When the broker receives the entrusted order, he can directly deal with the offer of the expert broker. If the entrusted price exceeds the quotation range determined by the expert broker, the broker may transfer the entrustment to the expert broker. When the price in the market changes to the limit entrusted price, the expert broker will execute the entrustment. Therefore, the expert broker is also called "broker's broker".

Expert broker maintains midfield balance

When the market's sales declaration is not balanced and temporary trading is not smooth, professional brokers have the responsibility to join the weaker party and use their own accounts to buy or sell stocks in order to improve market liquidity and maintain mid-field equilibrium to ensure The transaction proceeds in an orderly manner. It should be pointed out that although expert brokers can buy and sell stocks for their own accounts, they must ensure that the client entrusts orders that have priority over the same price of their account when closing. Despite the adoption of an expert brokerage system, the New York Stock Exchange is still a customer-driven market, rather than a dcaler-driven market, with approximately 88% of its trading volume Achieved between customers. It is only through the role of expert brokers that the overall market transaction is smoother and more stable.

The New York Stock Exchange currently has 1,366 members, of which approximately 450 expert brokers work for 38 expert broker companies. Due to the special status and role of expert brokers, the exchange requires that expert broker companies have very sufficient capital, and has strict regulations on the bid-ask spreads and continuity of price fluctuations of their specialized stocks. Functions, the company where the company is located will be fined, condemned, etc. by the exchange.