Jitney: A situation where one broker who has direct access to a stock exchange performs trades for a broker who does not have access. Fraudulent activity in the penny stock market. It occurs when two brokers work together by trading a stock back and forth to rack up commissions and give the impression of the trading volume. For example, in the first definition, a small firm whose volume of business is not sufficient to maintain a trader on the exchange would give its orders to a large dealer for execution. In the second definition, jitney or “the jitney game” is basically the same thing as circular trading.

Jobber: A jobber is slang for a market-maker at the London stock exchange since 1986. Jobber is a stock exchange member broker specializing in giving two-way quotations. The term "jobber" is also used to describe a small-scale wholesaler or middleman in the retail goods trade.

Jobbers Spread:  The difference between the price at which a jobber is prepared to sell and the price at which he is prepared to buy. A large difference reflects an imbalance between supply and demand.

Joint Account: Joint account held by more than one account holder in a banking or a business account. Here one account holder acts as the primary account holder. Then the other two or three holders are deemed as secondary account holders.

Joint-Stock Company: The modern corporation has its origins in the joint-stock company. A joint-stock company is a business owned by its investors, with each investor holding a share based on the amount of stock purchased.

Jumbo Bonds (U.S): A certificate of deposit issued by a bank or savings and loan association for a huge amount usually for a period of a year or less.

Junk Bond: Junk bonds are instruments that either offer investors a higher yield on their potential investment or are graded as non-investment bonds at the other end of the spectrum. Junk bonds carry a higher amount of risk the investment-graded bonds.

JPY: JPY is the abbreviated form of the Japanese Yen. It is the form of currency used for buying and selling goods and services and performing trading transactions across Japan.

Stock Market Reference (A-Z)


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