The title and task of the stockbroker has found its origin in the code Napoléon. Starting in the beginning of the XIX century until the end of the XX century, the stockbroker was the only legitimate operator of the stock exchange in Belgium as well as all the other European countries.This exclusivity has been justified through legal requirements to the stockbrokers: punctual formation, legitimate experience, proper ethics, reliability, checkups, and penalties in case of mistakes …
The legislator has send a clear message to the savers that the stockbroker earned the position of a trustworthy financial advisor whom is competent and aware of his responsibilities.The end of the eighties has brought multiple reformations which led to the disappearance of the profession stockbroker in Europe. The stock exchange was made accessible for the stockbroker companies and banking.
In the USA the traditional role of stockbroker still is applied. The stockbroker in Belgium has lost its monopoly of stock exchange. However, the title still exists and all the requirements that are bound to it. This shows that the stockbroker can uphold its long tradition of reliability in financial investments.
The Stockbroker in This World
In historic point of view, the stockbroker executed the stock orders (buy & sale) for his client’s account. In France, a stockbroker translated is an “agent de change” and in Dutch we speak of an “effectenmakelaar”. The Italians use the term “agent di cambio” and is almost the same as the french translation. All these terms refer to the important role stockbrokers have in the financial world.