An “agioteur” is a French term that refers to a stockjobber, speculator, or someone who engages in arbitrage, which is the practice of taking advantage of a price difference between two or more markets. Specifically, it describes a person who buys and sells stocks, bonds, currencies, or commodities with the aim of profiting from short-term fluctuations in their prices, rather than investing in the intrinsic value or long-term performance of those assets.

The term “agioteur” carries a somewhat pejorative connotation, often used to depict someone who manipulates or exploits market conditions for personal gain, sometimes at the expense of the broader economy or the stability of financial markets. The activities of agioteurs can include speculation on government securities, currencies, and other financial instruments, potentially influencing market conditions in ways that can lead to volatility or market bubbles.

Historically, agioteurs have been associated with periods of financial speculation and crises, where their activities were believed to exacerbate market instability. Their actions are often under scrutiny for their potential to distort market mechanisms, leading to calls for regulation to prevent manipulative practices and ensure market integrity.

In modern financial markets, the activities akin to those of agioteurs are subject to regulatory oversight to prevent excessive speculation and market manipulation, ensuring that financial markets function smoothly and transparently.