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Does that cover the entire financial industry?



Not necessarily. Companies that facilitate trades (eg, E-Trade) don't fall in this category, because their business model is about providing a service to regular people.

Jane Street is a proprietary trading firm. They have no external customers to whom they would provide goods or services. Their primary purpose is to invest the company's own money.


I think an economist would say market makers reduce the volatility of a market, which does benefit regular people.




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