Achieving Market Making Status: Rapid Fire

What this video covers

• The difference between the statute's regular or continuous holding-out standard and the ADF's regular and continuous requirement
• How over-the-counter (OTC) market maker status is earned security by security, and when a market participant identifier (MPID) requires written approval
• The three steps for a manual floor broker cross: minimum variation, public announcement, and a trading official present
• Market maker net capital requirements of $2,500 per security, or $1,000 for securities priced at $5 or less, using the 30-day average
• Why net capital is the greater of the ratio requirement or highest activity minimum, not the sum of both
• Qualified block positioner requirements, including $1,000,000 in net capital, $200,000 blocks, and selling as rapidly as possible
• Prohibited issuer payments, the three carve-outs, ADF termination triggers, excused withdrawals, and the clearing-arrangement exception to the 20-business-day bar