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A fun reminder, in the age of the super computer, of the role of the DMM "designated market maker" on NYSE’s trading floor, one of the last bastions of open outcry trading,
DMMs account for about 2 to 4 per cent of daily trading volume in the US, according to NYSE, and they are responsible for establishing the first and last price for each NYSE-listed company. Citadel Securities, which is separate from the hedge fund Citadel but also controlled by billionaire Ken Griffin, is an electronic trading powerhouse that handles about one in five shares traded daily in the US stock market.
https://www.ft.com/content/821c26d8-70ac-11e9-bf5c-6eeb837566c5
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