| 单词 | dual-capacity system |
| 释义 | dual-capacity system A system of trading on a stock exchange in which the functions of stockjobber and stockbroker are carried out by separate firms. In a single-capacity system the two functions can be combined by firms known as market makers. Dual capacity existed on the London Stock Exchange prior to October 1986 (see Big Bang), since when a single-capacity system has been introduced, bringing London into line with most foreign international stock markets. The major advantage of single capacity is that it cuts down on the costs to the investor, although it can also create more opportunity for unfair dealing See: |
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