This is an... extraordinary article in the Wall Street Journal about stock internalization, etc.https://www.wsj.com/articles/exchanges-vie-with-ultrafast-traders-for-mom-and-pop-stock-orders-11568808000 …
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I think you're jumping over a bit here. The reason we have stock markets is to bring buyers and sellers together; but stock markets predated market makers by centuries.
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You can’t have a functioning market without someone taking a vig to be willing to smooth the market. I’m pretty sure the first market maker materialized about four minutes after the first stock market opened.
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