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.
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