The Jobbing System of the London Stock Exchange: An Oral History

Ref.No.:  7	Playback No.:

Interviewee's surname:   Peppiatt	Title: Mr
Interviewee's forenames: Brian Kenneth
Date of birth: 16 April 1934	Sex: Male

Date(s)  of recording: 18 January 1990
Location of interview: Warburg Securities, 1 Finsbury Av., EC2
Name of interviewer: Bernard Attard
Type of recorder: Marantz CP 430		' '
Total no. of tapes: 2         Speed:
Type of tape: TDK SA 60      Noise reduction: DBX
TDK AR 60 Mono or stereo: Stereo         Original or copy: copy
Additional material:
Copyright/Clearance: I hereby assign the copyright in my contribution to the Centre for Metropolitan History, Institute of Historical Research on condition that any attribution of fact or direct quotation from the interview is subject to my permission for a period of thirty years.

SUMMARY OF CONTENTS

Tape 1, Side 1

Family and personal background; how joins Akroyd & Smithers; starts as a blue button; description of A & S; routine as a blue button; description of the office accommodation; training; blue button on the oil book; Suez; A & S approach to jobbing; the suspense account/back book; charts; membership; split between A & S and Blackwell; description of the gilt market.

Tape 1, side 2

The gilt market; partnership and consequences; difficulties of the gilt market during the period of the bank rate tribunal; Cuba; career in A & S; development of A & S; merger with equity jobbing firms; change in the Stock Exchange; pressures on the jobbing system; the development of the gilt market; the government broker; competition among jobbers; the jobbers' committee.

Tape 2, side 1

The gilt market; Smith Brothers attempt to enter the gilt market; background to Big Bang and merger of A & S with Warburg; distinctive qualities of A & S; qualities of a successful jobber.