He is a sort of self insertion character for Jay P. Hailey, in which Jay ponders how he would ruthlessly exploit the Trek Universe for Profit.
The Ferengi when functioning properly in story telling, seem to have certain commonalities with Daffy Duck, in that they work in story terms when their impulses and urges are not serving them well.Consequently, Jae-The-Ferengi's greed and impulsiveness often back fire, placing him in jeopardy.
Jae's First Appearance is in ST-OM episode 99, Jae's Next Scheme
His greatest effect on ST-OM and STB-600 are the Ferengi Trade Ships. These vessels play a pivotal roll in The Eagle's Spawn by Garry Stahl, but Jae the Ferengi gets no press, which really grinds him, because if you can't get press you don't sell ships. (Meta: After the battle with the USS Kongo Jae barely got off Ekos with not as much of his money as he would have liked. The market tanked.)