Brokerage houses or stockbrokers are the financial institutions whoever has the Trading Right Entitlement Certificate (TREC) in a demutualized stock exchange. For mutualized stock exchange stockbrokers are the member of the stock exchange where they can have signification influence in the operating activities of the stock exchange. The stock brokers’ main function is to execute the trade of securities on behalf of the clients. The stockbrokers who have the stock dealer license are allowed to trade from their own portfolio.