Episode 77 | Clive Ponsonby - former JP Morgan FX Trader
A TRADER'S LIFE
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The Importance of Market Maker
Market maker basically made a price on demand to anyone that's asking. That might be clients, it might be other banks, competitors. There was no e-lit to a market at the time and you would actually find out what the price would be by making prices. And so there's a lot of luck involved, because once you've dealt anything that subsequently happens, that moves the market away from you will cost you money.
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