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Retail Service Provider
Retail Service Provider RSP became the new name for market makers back in 1997.
Most deals for private investors are still done in the traditional way using retail service providers RSPs who provide quotes for deals. They are required to match the best buying and selling prices on the order book.
Be warned while RSPs have to match the best prices quoted for deals done on five-day settlement they could quite legitimately quote worse prices for longer settlement times which include the vast majority of deals done using share . However the advent of online share dealing has rendered this less important.
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2009-02-17 00:00:00 © Moneyextra.com
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- Market maker