5 Admission as a market maker
1 A market maker is a participant which, pursuant to Clause 10.3, undertakes to ensure a liquid market for one or more securities.
2 The Exchange concludes a market maker agreement with the participant that it admits as a market maker.
3 The Exchange may offer a market maker that fulfils its obligations faultlessly better terms than those that apply to other participants.
4 The details are laid down in the "Admission of Participants" Directive.