“Opening the kimono” of the US market-maker activity

NEW YORK | There are more than 20.000 market makers only in the US. Now one of them –a very, very big one, JP Morgan– has broken for the first time a code of silence among investment banks by revealing how much they rakes in as a market-maker. A market-maker quotes bid and offers prices for specific stocks or other securities that it holds. Its aim is to make money by…