Market Maker Registration Requirements

Any entity desirous of being registered as a market maker must comply with the following Rules and Regulations.

The Market Maker:

Part E4 –Rule 182C Market Makers Functions:

  1. A registered Market Maker shall perform the following functions:
    1. be a specialist in designated securities and shall hold itself out (by entering quotation in an interdealer communications system or otherwise) as being willing to buy and sell the designated securities for its own account on a regular or continuous basis.
    2. promote continuous liquidity in the market at all times.
    3. serve as a source of market information for the designated securities for which at all times, it stands ready.
    4. facilitate a smooth trading atmosphere and engender market stability as well as promote price discovery.
  2. The Market Maker may in addition to sub-rule (1) above, carry out other functions, such as underwriting; but it shall not combine market making functions with stockbroking.
  3. Obligations of Market Makers

A Market Maker shall comply with the following:

4. Infrastructure

The Market Maker shall have a robust information technology infrastructure and multiple record keeping systems.

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