Post by
ark88 on Oct 27, 2022 12:39pm
RECAP
We're all getting a woody today because the first trade of the day was 1 share traded by Virtu ITG, who many here believe is a MM for SNV. That's it right?
Comment by
GeorgiaStreetE on Oct 27, 2022 12:44pm
There's a boatload of potential market makers involved here. VirtuITG is just one of the more obvious ones because they don't do retail trading. https://www.tsx.com/trading/toronto-stock-exchange/order-types-and-features/market-maker-program/market-makers-list
Comment by
RoyMax123 on Oct 27, 2022 1:27pm
As far as I know SNV never hired a MM so they are probably trading on their own and not specifically for SNV.
Comment by
Lovethegains on Oct 27, 2022 1:50pm
Virtu ITG is SNV market maker
Comment by
SlyFox1 on Oct 27, 2022 1:51pm
I believe that it is mandated that every publicly listed stock has at least 1 MM. In most cases there are multiple MMs for a stock. Especially as increased liquidity is needed
Comment by
ark88 on Oct 27, 2022 1:54pm
Companies don't hire MMs. MMs are assigned by the Exchange.
Comment by
RoyMax123 on Oct 27, 2022 1:57pm
Not if you want them to work for you, here's an example https://stockhouse.com/news/press-releases/2020/01/27/kane-biotech-engages-independent-trading-group-inc-for-market-making-services
Comment by
Lovethegains on Oct 27, 2022 2:01pm
Companies can most certainly hire their own market maker