Stevva Corp. (STVA)

[andrius]

So do you have a source or reference to show us how brokers make market in grey sheet stocks?

Broker is just a middle man. They take your money which gets placed with clearing firm which does all the book keeping. Making sure your account is complaint with rules. When you buy something they are the ones that work with other clearing firms to exchange cash/shares. Orders that are placed with broker get sent to market place where MMs, specialists and ECNs execute your order.

Most brokers don't really do much other than customer service. Clearing firm handles your cash/shares when its exchanged/requested. Platforms where you see quotes, your orders get routed, etc are usually provided by 3rd party software firms. Orders get executed my MMs/ECNs.

Obviously there are some exceptions big brokers like Etrade have their own clearing firm. Have their own software etc. But they are all separate parts of the company. Etrade definitely does not make a market in stocks though. In fact they sell their order flow to select parties that mostly fill your orders in dark pools that aren't even publicly quoted(thats for big baords).