Term: AGENT

A natural or juristic person who cats on behalf of another such person in a commercial transaction. When a stockbroker acts on behalf of his/her clients and has no personal interest in their orders, then he is acting as an agent. All transaction on the JSE must take place through a stockbroker registered with the JSE. Agents, including stockbrokers generally charge a fee for their service. On the stock exchange this fee is known as “brokerage” and varies from one stockbroking firm to another. To open a stockbroking account you will need to sign a mandate (either discretionary or non-discretionary) with a registered stockbroking firm. That mandate makes them your agent in the stock market.

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