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the work of stockbrokers

English translation: Two possibilities

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09:13 Mar 29, 2003
English to English translations [PRO]
Bus/Financial
English term or phrase: the work of stockbrokers
Good morning,
I have a query about the possible roles of a stockbroker, arising from a financial transation I am currently completing. The sentence that troubles me is as follows (it's my translation, but I reckon it's fairly close to the mark):
"There are currently a total of ten brokers engaged in handling Pluto Group stock on a continuous basis"
I'm unhappy with this because it was my understanding that a stockbroker was an independent financial trader, but this company seems to imply that they have secured the dedicated services of the team they mention. Is there anyone out there who understands what this company is driving at and can therefore help me to write something more sensible? The company in question is Italian, but they have institutional investors throughout Europe so I think this is not merely an "Italianism".
Thanks indeed for your time and trouble.
Derek
Derek Smith
Local time: 19:18
English translation:Two possibilities
Explanation:
"Broker" can indeed refer to an individual as well as a company (although in the latter context, I would expect a reference to "brokerage houses").

I would need to see more context to judge what exactly they're referring to - here are my guesses (educated, hopefully):

If the statement is made by a brokerage company (or other financial services provider), I believe it refers to ten individual (employees) handling trades in that particular share.

If, however, this is part of an analysis regarding "Pluto Group" (either a company profile, or an analyst's report), it could well refer to the fact that "Pluto" is *covered* by ten brokerage houses. "Coverage" in this context means that these houses conduct research, publish reports and advise about investing in the company.
Selected response from:

Ralf Lemster
Germany
Local time: 19:18
Grading comment
Thanks indeed also to Jerrie and Shong Fong Lew for your helpful feedback here. I have gleaned some additional information since posting the question, so I can now state that the people referred to are individuals employed by various brokerage houses and banks. Interestingly, the company in question calls these people "analysts" on its website (http://www.interpumpgroup.it/uk/financial_box_elan.html) but uses the English word "brokers" in its financial statements. They (the brokers/analysts) seem to be simply specialised in handling the company's stock rather like the idea that Ralph has kindly proposed. I can't expect to understand the details of their relations with the company, but I feel more confident about hazarding a translation thanks to your collective input.
Respectfully,
Derek
4 KudoZ points were awarded for this answer

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Summary of answers provided
3Two possibilities
Ralf Lemster
3to cover up tracks / create mass participation impression / stock manipulation
#41698 (LSF)
3Brokerage Company
jerrie


  

Answers


5 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Brokerage Company


Explanation:
Could it be that they are talking about a brokerage company, where 10 stockbrokers have been assigned to a specific project?


    Reference: http://www.polpo.co.uk/index.html?companyprofile.htm~main
jerrie
United Kingdom
Local time: 18:18
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 773
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
to cover up tracks / create mass participation impression / stock manipulation


Explanation:
Sometimes a big investor, in order to prevent the market from guessing that all the trades came from a current investor, would spread it over a few brokers.

I'm not sure about Italy though, whether the stock exchange there gives information naming actual investor, only naming the brokerage agent when giving quotes, or none at all.

And sometimes, for purpose of manipulation (illegal in some countries), like chasing up the value of a stock before dumping it.

--------------------------------------------------
Note added at 2003-03-29 11:44:50 (GMT)
--------------------------------------------------

current investor -> single investor

--------------------------------------------------
Note added at 2003-03-29 13:48:42 (GMT)
--------------------------------------------------

\'Dedicated\' here means \'assigned to you\' something like if you are a high net worth individual, the private banking institutions would assign a personal banker to you, so that you normally deal with the same banker.

--------------------------------------------------
Note added at 2003-03-29 14:03:49 (GMT)
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\'chase up the stocks\' here means making transactions without changing ownership -> trade among a closed group or same person.

#41698 (LSF)
Malaysia
Local time: 01:18
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 53
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5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Two possibilities


Explanation:
"Broker" can indeed refer to an individual as well as a company (although in the latter context, I would expect a reference to "brokerage houses").

I would need to see more context to judge what exactly they're referring to - here are my guesses (educated, hopefully):

If the statement is made by a brokerage company (or other financial services provider), I believe it refers to ten individual (employees) handling trades in that particular share.

If, however, this is part of an analysis regarding "Pluto Group" (either a company profile, or an analyst's report), it could well refer to the fact that "Pluto" is *covered* by ten brokerage houses. "Coverage" in this context means that these houses conduct research, publish reports and advise about investing in the company.

Ralf Lemster
Germany
Local time: 19:18
Native speaker of: German
PRO pts in pair: 377
Grading comment
Thanks indeed also to Jerrie and Shong Fong Lew for your helpful feedback here. I have gleaned some additional information since posting the question, so I can now state that the people referred to are individuals employed by various brokerage houses and banks. Interestingly, the company in question calls these people "analysts" on its website (http://www.interpumpgroup.it/uk/financial_box_elan.html) but uses the English word "brokers" in its financial statements. They (the brokers/analysts) seem to be simply specialised in handling the company's stock rather like the idea that Ralph has kindly proposed. I can't expect to understand the details of their relations with the company, but I feel more confident about hazarding a translation thanks to your collective input.
Respectfully,
Derek
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