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Technology Stocks : Ascend Communications (ASND)
ASND 212.33+1.1%Nov 28 9:30 AM EST
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To: username who wrote (34802)2/14/1998 12:04:00 AM
From: Nazbuster  Read Replies (2) of 61433
 
Pete, the MM takes the stock in (buys) at the bid and lets it out (sells) at the ask. If you want to buy stock, you pay the ask, the MM owns it for less than the ask, that's the game.

I'm curious: What happens if the best bid is 20 and the best ask is 20 1/4 and neither budges from their position for 1/2 hour? What is the MM's responsibility in this case to "make a market?" Do they have to buy? Sell short?
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