Third Market Maker

A third-party firm willing to buy or sell stocks listed on exchanges at publicly quoted prices.




Taobiz explains Third Market Maker
A broker is likely to direct an order to a third market maker for one of two reasons:

A) the broker is not a member of the exchange on which the stock is traded.
B) the third market maker entices the brokerage by paying (maybe a cent or two) per share for the trade.