Market makers
Plain definition. Under FINRA’s trade reporting rules, a market maker is an exchange or over-the-counter market maker registered for a specific stock with an exchange or securities association.
Technical definition. FINRA Rule 6320B, which sets definitions for the FINRA/NYSE Trade Reporting Facility rules, defines a “Market Maker” as an “exchange market maker” or “OTC market maker,” as those terms are defined in Rule 600(b) of SEC Regulation NMS. To qualify, the firm must be registered as such in a particular designated security with an exchange, a registered securities association or a facility of one, and “designated securities” means all NMS stocks. A member counts as a Market Maker only in the designated securities for which it is registered.
On this site
On this site, Market makers comes up in Why does liquidity depth matter for XRP as a bridge?, Why do market makers hold XRP, and are they betting on its price?, Do banks and businesses need to hold XRP for it to be used?, Do market makers need to own all the XRP liquidity they provide? and How could borrowed XRP support a cross-border payment?.
Source
6320B. Definitions | FINRA.org (finra.org), read October 1, 2026.
Pages that cover Market makers
- How do lenders and market makers hedge XRP price risk?
- Can XRP be hedged on regulated markets, and why does that matter?
- How could borrowed XRP support a cross-border payment?
- Do banks and businesses need to hold XRP for it to be used?
- Why do market makers hold XRP, and are they betting on its price?
- What is the XRP liquidity flywheel, and is it running?
- Is XRP valued as a payment coin or as a liquidity and collateral asset?
- Why does liquidity depth matter for XRP as a bridge?
- Could XRP lending create a self-reinforcing feedback loop?
- Does XRP held by ETFs just sit idle?
- How do XRP ETF creations and redemptions work, and who moves the XRP?
- Do market makers need to own all the XRP liquidity they provide?