{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"PIWORLD Investor Podcasts","title":"The Market Maker: Part 1 - Spencer Crooks, ex Director of Market Making at Winterfloods","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/fabe0c6f\"></iframe>","width":"100%","height":180,"duration":2263,"description":"This video can be seen at: https://www.piworld.co.uk/2019/11/29/the-market-maker-part-1-spencer-crooks-ex-director-of-market-making-at-winterfloods/\nSpencer Crooks, ex Director of Market Making at Winterfloods talks to Tamzin Freeman, piworld.\nSpencer gives us a fascinating insight into the day in the life of a Market Maker.\nThis is the first of two parts. The second part goes into more technical details of market making.Both parts are a must watch, to understand what’s going on behind the scenes to determine how stocks are priced.\nSpencer’s background – 00:22What do Market Makers do? – 01:35Risk management by Market Makers - 04:29Market Makers: the institutions & retail - 06:22Market Makers: the business model - 08:04How do you set a price? - 11:37How do you set the spread? - 14:32How do you set the market size? - 16:11The difference between quote driven or order driven stocks - 17:37How helpful is Level 2 to the retail investor? – 19:18The relationship with the broker – 21:40What’s the relationship like between Market Makers? - 25:38How large is the research function at Winterfloods? - 29:23How many companies does an individual Market Maker cover? - 30:45How is a stock priced on the morning of a profit warning? - 33:04What makes a good market maker? - 35:34\n About Spencer Crooks: Joined Bisgood Bishop in 1985. After takeover of Bisgood Bishop, traded at County NatWest until 1988, before leaving to join Winterflood Securities. Became a director in August 1999. Appointed FSI 2006.","thumbnail_url":"https://img.transistorcdn.com/oB5fNE4aIAia_YyTCKvE1PzrZQaD1Fjo_P7m7T9Aw_Y/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9kOTJi/ODBiMzBmOGFhZWJi/MWEzYThkMzAyNmZm/MTdjZi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}