Hello, I'm doing research on proprietary trading (for a book on
financial English) and I would be grateful if someone could explain one
point: I read that traders in investment banks (or rather
commercial/universal banks nowadays) make a market in the asset they
trade. They maintain an inventory, make money thanks to the bid/ask
spread, etc, that's clear. What I'd like to know is this OTC trading?
What about listed stocks? What is the traders' relation with the stock