The sale to and by the MM is not recorded and is not counted as a trade by any exchange. Ask them. Here is an example for BMO (Bank of Monteal). Please show me where the market maker's buy and sell are recorded? <A HREF="http://new.stockwatch.com/swnet/utilit/utilit_snapsh_result.aspx" target="_blank">http://new.stockwatch.com/swnet/utilit/utilit_snapsh_result.aspx</A> All you see is the buying and selling broker. A transaction shows up as one sale not two.