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Non-Tech : Market Makers; What They Do vs What We Want

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To: Doug R who wrote (4)4/19/1997 1:36:00 PM
From: Steven Bowen   of 207
 
Doug, sounds like this should become an interesting thread and maybe teach us all some things.

My questions though:
I understand the functions of the market makers, but does anyone know exactly who they are and how they operate? I mean, if Merril Lynch makes a market in a certain stock, will they assign one broker who's task it is to make the market? Would this broker be like a regular stock broker, or is he (she) somehow different? Would they make a market in only one stock, or could they do more? Do they sit in front of a screen all day thru which all offers to sell or bids to buy their particular stock come thru and match them up to best keep supply and demand in check? Are there conflict of interest checks in place to prevent a firm from profitting from manipulation of a stock by their mm?

It seems like computers could be programmed to better take over the function of market makers, probably smarter, faster, and fairer. Is this happening?

Also, in checking out a stock, are there free sites to check to find out who the market makers are?
Thanks,
Steve
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