Where can I find some details about quote driven markets? Can anybody show any notes or provide some paradigm about what the trader sees when he is about to trade in such a market? They say that he/she can see only quotes from the market maker(s). What are the real world makrets that we refer to them as quote (driven) driven markets?
Another question is, if the quote driven markets are theorized as centralized or decentralized markets, althout I thini they are theorized as centralized markets. Because tehre is a central dealer and all the transactions are made trhough them.