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It typically refers to a room where tele-marketers work, often selling stocks, and using unfair, dishonest sales tactics, sometimes selling fraudulent stocks.The term carries a negative connotation, and is often used to imply high-pressure sales tactics and sometimes, poor working conditions.A transaction on a stock exchange must be made between two members of the exchange a typical person may not walk into the New York Stock Exchange (for example), and ask to trade stock. In addition to actually trading stocks for their clients, stockbrokers may also offer advice to their clients on which stocks, mutual funds, etc. Philadelphia was the center of American finance during the first forty years of the new United States.In 1790, the country's first stock exchange was founded there and Chestnut Street was home to the nation's most powerful financial institutions.

The term boiler room in business refers to a busy center of activity, often telemarketing or other types of sales.

Some traits of a boiler room include presenting only good news about the stock to be sold, and discouraging outside research by customers or brokers working there.

The term is likely to have originated from the cheap, hastily arranged office space used by such firms, often just a few desks in a the basement or utility room of an existing office building.

A stockbroker sells or buys stock on behalf of a customer.

The stockbroker works as an agent matching up stock buyers and sellers.

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