The Role of Designated Market Makers in the New Trading Landscape

Evangelos Benos · Anne Wetherilt

36 citations0/0 files storedRePEc: Research Papers in Economics

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Financial Markets and Investment Strategies Finance, Markets, and Regulation Securities Regulation and Market Practices

Abstract

Designated market makers (DMMs) have traditionally been a source of liquidity for exchange-traded securities and financial contracts. Recent regulatory and technological developments, however, have changed the environment in which DMMs operate, raising questions about their place in the new trading landscape. This article discusses the role and challenges of DMMs in today’s trading venues.

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2005Market Liquidity and Funding Liquidity 2011Automation, speed, and stock market quality: The NYSE's Hybrid 2008What Happened to the Quants in August 2007?: Evidence from Factors and Transactions Data 2007Affirmative obligations and market making with inventory

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2019Exchange Competition, Entry, and Welfare 2019The Bank of England and the Government Debt: Operations in the Gilt-Edged Market, 1928–1972

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