Direct Edge Mulls Market-Making Rules
As the US Securities and Exchange Commission (SEC) considers how it may change the rules governing market-maker obligations, exchange operator Direct Edge plans to put its own market-maker rules in place for its markets.
Direct Edge, which launched as an exchange in June after operating as an ECN, has not previously set market-maker obligations, says William O'Brien, CEO of Direct Edge. "Now that we are evolving toward a more meaningful and realistic standard of what it means to be a market-maker
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