In the past Euronext Liffe used to have an auction in market maker roles every six months. This has been changed, and all roles have been auctioned. This selection process is based on the performance of the market maker in the past year. Quoting tight and for size will earn you brownie points. Generally speaking, [...]
I confess, in the light of the current market crisis and US downgrade this isn’t the most spectacular news. Market makers have been competing for the primary market maker (pmm) licenses in a few stocks. This head to head competition is always interesting, as the market maker with the best quoting performance is selected. But [...]