When dealers act as the counterparty the delay with brokers finding an appropriate counterparty results in less liquidity in brokered markets. Difference Between Jobber Broker in the Stock Market By Cam Merritt The London Stock Exchange once enforced rigid separation between jobbers and brokers. Types Of Markets Guide To Dealers Brokers And Exchanges Brokers buy and sell securities for their clients but dealers buy and sell on their own accounts. . How to Pick a Stockbroker. Before you make a choice learn the difference between the two types. The bid price is the price the dealer is willing to buy the security for and the offer price is the price the dealer is willing to sell their security for. -As a dealer the swap bank stands ready to accept either side of a currency swap and then later lay off the risk or match it with a counterparty. The difference between brokers and dealers has been explained in a subsequent article...