Purpose – The purpose of this paper is to critically evaluate the different market‐making systems found in most developed capital markets and to provide guidance to emerging market regulators for a possible implementation of such a system. Design/methodology/approach – The paper looks...

Purpose – The purpose of this paper is to critically evaluate the different market-making systems found in most developed capital markets and to provide guidance to emerging market regulators for a possible implementation of such a system. Design/methodology/approach – The paper looks...