Professional Documents
Culture Documents
Participants of the Stock Exchange are individuals and institutional investors (those who collect and invest savings of many others: insurance companies, pension and union funds, unit trusts) Membership: Only Member Firms of Stock Exchange are allowed to take part in dealing on the Exchange floor and outsiders must carry out their buying and selling through them. The Member Firms are called brokers or dealers and some of these specialise as what are known as Market Makers. Broker/Dealers: they buy and sell shares as agents for public investors. Market Maker: A dealer who buys and sells shares of any kind on his own account and not as a broker who buys and sells for other persons. Control: The Stock Exchange Council is elected by the members of the S. E. Functions: 1. It controls the admission of new Members. 2. It disciplines Members who are guilty of misconduct. 3. It formulates the Stock Exchange rules. 4. It settles disputes between Members. 5. It provides settlement and information services to Members.