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Designated Market Maker/ DMM Meaning & Definition

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Definition of Designated Market Maker/ DMM

A member of an exchange responsible for maintaining a fair and orderly market in the securities for which they are the designated market maker / DMM and for executing orders left with them.

Applying "Designated Market Maker/ DMM" to Securities Exams:

The NYSE began calling the Specialists in securities designated market markers when the exchange implemented its hybrid trading system. This trading platform combines the advantages of the specialist system, where a live person monitors the trading activity, with the technological advantages of computer based trading.

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