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Wednesday, March 03, 2021 8:43:42 AM
They have a spread. If you offer your shares for sale within their spread, they will take them and will make a commission. If you wish to buy shares, within their spread, they will sell them to you - and take their commission.
We all work at 4 decimal places. MM's work at 5 decimal places. They are called market makers because they guarantee a spread and act as buyers or sellers to keep the market moving.
The one thing they do NOT do is act as traders. They are BROKERS, not TRADERS. They FACILITATE the market. Not much more than cashiers at your local grocery.
The ONLY profit they make is within their spread. By law, any buy or sell must be within their spread, and their spread is a GUARANTEE that they will either buy or sell within that spread.
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