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Technology Stocks : America On-Line: will it survive ...?
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To: Jeff Mills who wrote (11000)8/5/1998 9:39:00 AM
From: Keith A Walker   of 13594
 
You are correct, however, I believe that Merrill Lynch keeps some inventory of AOL, for example, so that they can markup the price, on small retail orders. They are not a market maker per se, as in the sense of the Nasdaq, but more like a virtual market maker, mirroring the specialist on NYSE.

Anyone have any further insights?
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