Jobber is a term used in the stock market to describe a professional trader who buys and sells securities on their own account rather than on behalf of clients. Historically, jobbers played a crucial role in maintaining market liquidity by continuously quoting buy and sell prices. Although the term is now less common in modern trading systems, its concept remains relevant in understanding how market intermediaries help facilitate smooth trading operations.

In earlier stock exchange systems, a jobber acted as a market maker, dealing in specific shares and profiting from the difference between the buying price (bid) and the selling price (ask). Unlike brokers, who executed trades on behalf of clients, jobbers did not directly interact with investors. Their primary goal was to ensure that there was always a buyer for every seller and a seller for every buyer, thereby maintaining liquidity and reducing price volatility in the market.

Today, with the advent of electronic trading and transparent order books, the traditional role of jobbers has been largely replaced by market makers and high-frequency traders (HFTs). These participants use algorithms and automated systems to perform similar functionsócontinuously providing bid and ask quotes to support efficient price discovery and execution.

Understanding the role of a jobber is important for investors and traders as it highlights how liquidity is maintained in financial markets. Liquidity providers, whether traditional jobbers or modern market makers, play a key role in ensuring that trades can be executed quickly and at fair prices. This contributes to the overall stability, transparency, and efficiency of the stock market, aligning with regulatory principles set by authorities such as SEBI.