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Also discussed open issues against the options ontology, and in particular, the nature of a market maker, and of a central counterparty for options.  See, and also  The question is whether we really want to retain the concepts of buyer / seller, or whether we want to ignore that distinction and deal with holder / issuer and market maker vs. broker, etc.    Brokers deal directly with clients, whereas market makers are large firms that are members of an exchange.  Also, see which has a much better summary of the distinctions between a market maker and a broker. 


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