MARKETS
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By Burton Malkiel
Published: December 14 2009 16:53 | Last updated: December 14 2009 16:53
Financial markets exist to transfer capital from investors to entities that need funding, as well as to provide liquidity for investors in the secondary market.
But buyers are often unavailable to purchase securities at the exact prices and at the exact time that sellers desire. This creates an opportunity for intermediaries to assume the risk of buying the securities, hoping to sell them later at a slightly higher price. This valuable function is called market making.
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