I read the A/H description as sort of a "public good" thing. It allows "off the books" transactions because the opening the next day does not show the true "last trade" price in the opening price. A court ordered sale that would hurt shareholders seems like public good to lessen the impact. The justification would be "public good" or just bookkeeping for MMs.
My problen with #1 is I don't see how MMs would make money. My understanding is that they like to make money.
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