I'm looking for the earliest published material on market-making concepts and principles from an institutional pov. Fact-checking a claim that this information did not exist in publication prior to mid-1990's.
I may be an OG of the OG you are looking for. LOL Assistant trader on an OTC MM trade desk, back in the day when there was a handful of MM trade desks and legit US exchanges West of the Mississippi. Publications/mementos in storage of that period... not much. Experiential memory however, is intact for brain picking.
I quit trading after the military stole my account for the crime of making too much money. I seem to recall that the phrase "market making" is actually a cute new buzz phrase used by young whipper snappers under the age of 80. I have heard of "provisioning liquidity" which may be the same thing. The worlds oldest stock exchange is the Paris stock exchange. You might find what you are looking for published in French. I remember when they started the paris stock exchange in the 1700s. All those youngsters showboating around. Why couldn't they just buy and sell directly with the company like sensible people. Then those greedy banker types stuck their noses in it trying to sell liquidity to others trying to provision it. You might also try searching for academic journal articles. I take donations for my diaper fund and trips to the buffet.
Hey @tiddlywinks! Had no idea you were an OG. What I'm looking for is essentially a domain specific glossary of terms that was used by those in with experience in MM from that era. Hope you have a stellar memory!
OG in the house! Would you have any introductory training materials from then? I'm looking for when certain keywords, concepts and principles were "coined." So far my search has taken me into Larry Williams and Ken Roberts content but they seem to be marketed toward the retail trader.
Excellent, very informative post, thanks so much! Oh, dang, do your kegels! edit: Seems to be contradictory claims to the title of "first stock exchange." I'm appreciating the historians more and more. Dutch East India Co https://www.jstor.org/stable/10.7312/petr16378 In Bruges in the current Belgium https://www.citeco.fr/10000-years-h...dle-ages/creation-of-the-first-stock-exchange