Direct Edge Market Maker Program
Direct Edge has launched a new Market Making Program on both EDGA and EDGX Exchanges. We expect that this new Market Maker Program will help to increase liquidity and provide more trading opportunities for our Members.
How to Register
Direct Edge Members
Follow the steps below to become a Market Maker on EDGA and/or EDGX Exchanges:
Prospective Direct Edge Members
- Complete and submit the Market Maker Registration Application to Direct Edge Member Services.
- Complete and submit your most recent FOCUS report, and most recent annual audited financial statements to Direct Edge Member Services.
- Update FINRA’s Web CRD® for registration of at least one Market Maker Authorized Trader (MMAT). Maintain a current list of MMATs who are permitted to enter orders on behalf of the Market Maker and provide continuous updates to the MMAT list on FINRA’s Web CRD® system pursuant to Exchange Rule 11.21(a)(4).
Only Exchange Members are eligible to be Market Makers on the Exchanges. Prospective Members are required to fill out a membership application for each Exchange as found on the Member Documents
page. The completed membership application must be submitted via email to Direct Edge Member Services
or via fax to 201.604.5474. All required materials found on the application checklist on the membership application should be included. Member Services will be in contact within 48 hours to discuss the next steps.
Direct Edge introduced attribution functionality to EDGA and EDGX effective September 24, 2012. This new functionality enhanced the Direct Edge Market Maker Program, allowing Market Makers to identify themselves as willing to buy and sell securities on the exchanges to facilitate making continuous two-sided markets.
For more information, refer to the Trading with Attribution
page and the EdgeBook Attributed