A stockbroker is a professional individual who purchases and sells shares together with other securities to clients of institutions and the retailers. The activity is carried out through the exchange of stock or even over the counter in return for the commission. Professional designations know the stockbrokers depending on the services they provide and the type of security they usually offer.

For one to qualify as a broker, he or she must typically earn bachelor’s degree in business administration. The stockbrokers perform the double duty in carrying out their activities. They always act on behalf of the brokerage firms who initiate the transactions for the accounts of the companies. They also buy and sell in the name of the customers or clients. This double action speeds up the security flow on an open market.

The stockbrokers also acquire and issue out the securities in their accounts to create a market for the securities for their identified consumers. The existence of the stockbrokers is so much essential in the business. They also earn an outstanding payment from the activities. It is possible for the brokers to make proper compensation from both sides of security transactions.

The stockbrokers who are specifically assigned to an investment banking operations always participate in the underwriting of the security contributions. They always enter into the contractual arrangements with the company when they act as the company issuing agents. Occasionally, they get a piece of the securities offering for their individual accounts.

The stockbrokers do the responsibility of representing the clients in the business transactions. They always perform the duties that are supposed to be done by the clients. They do this by seeking the best deals for buying or selling the stocks. They look for the most profitable ways to go through in the selling and acquiring of the stocks. Most of the brokers prefer dealing with almost all types of securities. They do not specify the security type to deal with because all of them vary at different time durations of business.

The brokers are capable of advising the clients on the duration or time to buy or sell the stocks. They have the relevant experience on the market trend. They are aware on the durations that one is supposed to buy or sell. The brokers also win the orders from the customers to buy or sell the stocks. After taking the order, they pass them to their brokerage firm’s network to a floor trade. The broker later relays the information to the clients when the transaction is complete.

The brokers receive their payments on a commission basis. In most cases, it is converted as a percentage of the trade value. They are only paid according to the number of transactions carried out. The discount brokers always offer trade at a single price. The suitability rules control all the brokers. They are expected only to recommend investments, which meet the financial goals and objectives of the customers.

The Securities and Exchange Commission controls both brokerage firms and individual brokers. It is important for the individual brokers to excel in the tests administered by the financial industry regulatory authority. After the candidate as qualified, he must carry out all the registration procedures through a brokerage firm.

The stockbrokers control and avoid losses by carrying out the stuffing. It is the act of selling the undesirable securities to the client’s accounts. It makes it possible for the brokers to escape taking of the losses on the securities that are to decline in the prices. It is not a simple task to determine whether the transactions you are carrying out will end up to fraud. The stockbrokers possess the freedom of buying and selling without considering the consent of the clients at CMC markets. The financial advisors mostly favour the stockbrokers by advising the clients to offer their approval for all the transactions in their accounts.

The brokerage also performs a dual purpose in most cases. They can act as the broker during the execution of orders in place of the clients. The brokerage can also serve as a dealer when it is involved in trading in its account. The functions performed depends on their suitability to the duty.

By Vijay Singh Rathore

SHIMLA- National Career Service (NCS) is a Mission Mode project under the Ministry of Labour and Employment, Govt. of India. Launched on 20th July 2015, by the Honorable Prime Minister of India, Mr. Narendra Modi, NCS aims at using every possible aspect of technology to bridge the gap between the job-seekers and the employers.

With the tagline, “Right Opportunities, Right Time”, the National Career Service portal  was developed primarily to provide aspiring youth more exposure to opportunities. This portal facilitates registration of job seekers, job providers, skill providers, career counselors, local service providers, govt. departments etc.

NCS portal also offer job matching services in a transparent and user-friendly manner. These facilities along with career counseling content are delivered by the portal through multiple channels like career centers, mobile devices, Common Service Centres (Lok Mitra Kendras) etc.

History of Employment Exchanges in India

Post independence, the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959 required all public and privates enterprises in India to compulsorily notify the vacancies available with them to the nearest Employment Exchange. There are total 982 employment exchanges in India. The Government of India proposes to transform these employment exchanges into career centers. As a mission mode project, initially 103 employment exchanges have been converted into ‘Model Career Centers’ across the country.

Funding & Operation

One of the 31 Mission Mode projects under National e-Governance Plan (NeGP) Digital India, the National Career Service project is funded and managed by the Directorate General of Employment & Training, Ministry of Labour and Employment, Govt. of India.

Offered Services 

Job Seeker: A job-seeker can register himself with the NCS portal by providing details about his qualification and work experience. He can also search for relevant jobs listed on the portal as per his preference. Job seekers are authenticated by their AADHAR (UID) number or PAN Card.

Employers: Employers can register themselves on the NCS portal providing their registration details. They can then post available vacancies, search for potential employees, track responses to job postings etc. using the portal. Authenticity of the employers is verified by their LIN (Labour Identification Number), PAN number, TIN number or MCA Ministry of Corporate Affairs registration number.

How To Access the Service?

The National Career Service can be accessed online, by telephone, or face-to-face by job-seekers, employers, counselors & local service providers.Web Portal: The National Career Service web portal can be accessed at www.ncs.gov.in. It provides services for the following stakeholders:

Job seekers
Employers
Local Service Providers
Career center
Counselors
Skill Providers
Placement organizations
Government Departments

Telephone: The National Career Service has a dedicated 100-seater toll-free call center which renders its service from Tuesday to Sunday from 8 AM to 8 PM in 8 different languages. The NCS call center can be accessed by calling Toll-Free Helpline: 1800 425 1514

Face-to-face service: Job seekers, employers and local service providers can seek face-to-face guidance and avail services by visiting the nearest Model Career Center run by the Ministry of Labour and Employment, Govt. of India.

Career Information

Based on an updated version of National Classification of Occupations – 2015, a huge database of career information is made available on the National Career Service portal. Career options have been classified into 53 sectors containing career information of as many as 3000 job roles. The same can be accesses by Clicking Here. The career guidance videos for improving social skills, personal growth and personality development are also available on the portal accessible by Clicking Here.

Start Your Own Business Guide

Another special feature of National Career Service portal is the ‘Start Your Own Business Guide’. To give a boost to Start-Up India initiative of the Government of India, all the relevant information, that an individual requires to start his own business, is available on the portal on the Start Your Own Business page. According to the National Sample Survey 2011-12, of the 47.4 crore workers, around 52% of India’s workforce is self-employed. With better access to finance, technology and open markets, the self-employed workforce has a huge potential for to grow and become entrepreneurs who could provide employment opportunities to others. Aimed at encouraging entrepreneurship, NCS brings to you a collation of material and helpful links to facilitate you on your entrepreneurship journey.

Model Career Centers

In the initial phase, the Ministry of Labour and Employment has set-up 103 Model Career Centers (erstwhile Employment Exchanges) throughout the country to help the job seekers and employers seek face-to-face assistance from the Center Manager or the Young Professional available at the center.  To access the list of Model Career Centers throughout the country, Click Here. One Young Professional each is appointed at the Model Career Centers by the Ministry of Labour & Employment to ensure the smooth functioning of the center.

What’s Unique about NCS?

• All the services are provided totally FREE OF COST (unlike Naukri.com etc)
• Largest ever database with 3crore 11 lakh+ job-seekers and 9 lakh+ employers in India
• Job-seeker authenticity verified using AADHAR or PAN Number
• Employer authenticity verified using LIN, TIN, MCA Registration Number
• Focusing on entire labourforce including 97% from the unorganized sector
• 12-hour dedicated multi-lingual call center

Candidates are free to bring-up their queries to the recently started Model Career Centre, Shimla functional from Regional Employment Exchange, US Club, Shimla. Candidates can mail their queries at [email protected]

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