Define: Jitney

Business, Legal & Accounting Glossary

Definition: Jitney



What is the dictionary definition of Jitney?

Dictionary Definition


A fraudulent arrangement whereby a broker who has direct access to an exchange executes trades on behalf of a broker who doesn’t.


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Full Definition of Jitney


A jitney is a fraudulent investment practice in which two investors or two brokers trade shares of a security back and forth to give others a false impression of high trading activity. The effect of a jitney is that the price of the security will rise. Brokers may practice a jitney for the sake of garnering commissions. A jitney usually occurs with penny stocks, whose prices are normally very low. A jitney is also called circular trading. The term “jitney” also refers to a legal arrangement where a broker who has direct access to an exchange performs trades for a broker who does not have this access. The term “jitney” is slang for anything that is made cheaply and poorly.


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https://payrollheaven.com/define/jitney/
Modern Language Association (MLA):
Jitney. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 07, 2020 https://payrollheaven.com/define/jitney/.
Chicago Manual of Style (CMS):
Jitney. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/jitney/ (accessed: April 07, 2020).
American Psychological Association (APA):
Jitney. PayrollHeaven.com. Retrieved April 07, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/jitney/

Definition Sources


Definitions for Jitney are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 15th February, 2020