In addition to the requirements to become a market maker, firms must follow strict guide-lines when acting as a market maker. Market makers must adhere to all rules relating to their participation in the over the counter market. Entering quotes, executing orders, and operating as a market maker during an offering are just some of the activities that have very specific standards of operation. All Series 57 candidates must have an in-depth understanding of market maker rules and regulations in order to successfully complete the Series 57 exam.
Times For Entering a Quote
The NASDAQ opens for trading at 9:30 AM EST with an opening cross. Market makers in anticipation of the opening may enter bids and offers based on orders that the firm has