Market Maker
Ein Finanzunternehmen, das kontinuierlich Kauf- und Verkaufspreise für ein Wertpapier stellt, um dem Markt Liquidität zu liefern.
What Is a Market Maker?
A market maker is a financial institution or broker-dealer that continuously quotes both buy (bid) and sell (ask) prices for a security, standing ready to trade at those prices. By providing this two-sided market, they ensure that other participants can always find a counterparty to trade with, maintaining market liquidity.
How Market Makers Profit
Market makers earn money primarily through the bid-ask spread. They buy at the bid and sell at the ask, profiting from the difference while managing their inventory risk. On highly liquid securities, this spread can be tiny, so market makers rely on volume.
Role in Market Structure
- Ensure continuous two-sided markets, especially in less liquid securities.
- Absorb imbalances between buyers and sellers.
- Required participants on designated exchanges and options markets.
Market Makers and Retail Orders
Many retail brokerage firms route customer orders to market makers through payment for order flow (PFOF). Critics argue this creates a conflict of interest; proponents say it results in price improvement for retail trades.
Market Makers on BlackSpecter
BlackSpecter provides market microstructure data — including spread history and order flow metrics — so sophisticated users can assess market maker activity around key price levels.
Disclaimer: This content is for educational purposes only and does not constitute financial advice.
Was ist ein Market Maker?
Ein Market Maker ist ein Finanzinstitut, das kontinuierlich Kauf- und Verkaufspreise für ein Wertpapier stellt und so die Marktliquidität sicherstellt.
Wie Market Maker verdienen
Market Maker verdienen primär durch die Geld-Brief-Spanne: Kauf zum Geldkurs, Verkauf zum Briefkurs.
Rolle in der Marktstruktur
- Sichern kontinuierliche Zwei-Seiten-Märkte.
- Gleichen Ungleichgewichte zwischen Käufern und Verkäufern aus.
- Pflichtakteure an bestimmten Börsen und Optionsmärkten.