The stock exchange functions like a market place where stockbrokers buy and sell securities for individuals or institutions and other ecommerce jobs and transactions involved. Stock prices can fluctuate any minute, and the price at any given time is determined by the demand. The Federal Securities Act of 1934 set up a federal commission to control the handling of securities, and render illegal manipulation of princes on stock exchanges. This was a direct result of the disastrous stock market crash of 1929. Today, the public is protected by regulations that set standards for listings required by public disclosures of financial conditions, and prohibit the manipulation disaster in the 1920s.
The duties of securities sales workers are very wide spread. They open new accounts for clients collecting personal data required to be submitted. When complied, the customers are permitted to purchase and even sell certain securities. They obtain information about prospects enlisted in the company through specialized research at the request of a customer, and often advise them with tips and wisdom when to purchase or sell in the appropriate time. They must be prepared to answer all questions on the technical aspects of stock market operations and be informed on the updated economic situations. They are expected to have sufficient knowledge to anticipate certain trends, and to counsel customers accordingly in terms of their particular stock holdings.
Some security sales workers specialize certain ecommerce jobs in specific areas such as handling only institutional accounts, bond issues, or mutual funds such as securities traders. Whatever area they may be operating, securities sales workers must keep abreast of all significant political and economic conditions, maintain very accurate records of all transactions, and continually solicit new customers.
Because of the background knowledge necessary to handle this job properly, most brokers will only hire people who possess college degrees, particularly in business administration and finance. The ability to read and understand financial reports and to properly evaluate statistics is essential to intelligent judgments.
All states require licensing of securities sales workers. Security sales workers must also be registered as representatives of their firm. Note that an examination must be passed in order to qualify as a registered representative.
Selling experience of any kind provides a good background for a securities sales worker. Occasionally, young people can find summer employment in a brokerage house and various jobs in ecommerce. A visit to the local investment office at the New York Stock Exchange will provide valuable opportunities to observe how transactions are handled and what is required of people in the field.
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