Anthony Rendon (AREN) $5.00 0.4% Justin Verlander (VERJ) $3.00 Rafael Devers (DVRS) $12.00 Ryan Zimmerman (ZIMM) $32.00 Colin Moran (MOCO) $11.00 Aaron Judge (JUDG) $16.00 Peyton Manning (MANN) $102.00 Travis d'Arnaud (TRAV) $6.00 Marshall Faulk (FALK) $7.00 Sean Newcomb (NSEA) $5.00 Todd Gurley (GURL) $1.00 LeBron James (LBRJ) $985.00 Salvador Perez (PERS) $2.00 Joc Pederson (JOCP) $1.00 Trea Turner (TREA) $5.00 David Dahl (DAHL) $6.00 Wilmer Flores (WLMR) $6.00 Max Scherzer (SMAX) $6.00 Freddie Freeman (FMAN) $2.00 Mookie Betts (BETM) $3.00 Ozhaino Albies (ALBO) $1.00 Corey Seager (SGER) $35.00 Ken Griffey Jr. (GRIF) $375.00 Andrew Benintendi (BENA) $9.00 Joe Montana (MNTA) $587.00

Exchange Info

About Market Making

The Role of the Market Maker

ThePit.com acts as a market maker on thePit1 exchange. The role of the Market Maker at thePit.com is modeled after the specialists on any of the major U.S. equity exchanges.  A specialist is a liquidity provider that stands ready to trade from his own account by committing capital to execute orders.

Market Maker's Spread

The difference between the price at which a Market Maker is willing to buy a card and the price at which he is willing to sell it is the Market Maker spread. On thePit1 exchange, we will make every effort to ensure that the spread remains tight, allowing users to actively and profitably enter in and out of positions.  For example, a card worth $100 would normally have a spread of $3.  A likely price made by the Market Maker for this card is a $98.50 buy price against a $101.50 sell price. There are factors that ultimately affect a Market Maker's spread:

How Prices are Determined

The Market Makers at thePit.com are committed to provide our account holders with prices that most accurately reflect true market values of the cards, as dictated by economic factors.  The price and spread quoted by the Market Maker is the most efficient price to bring buyers and sellers together.  Throughout the course of the trading day, the Market Maker will need to adjust his price to reflect new information in the market place.  This information includes:

Live Trading vs. After Hour Trading

ThePit understands that account holders will want to trade during hours when the Market makers are not active. During the After Hours Session, trades are executed through automated matching, which allows the account holders to trade virtually 24/7 (except for an hour each day for system maintenance). All holders in the middle of the market maker's spreads will be matched automatically, as long as there are no conflicts with the Minumum Order Quantity. (During the After Hours Sessions, it is strongly recommended that the minimum order quantity be set to one to maximize the chances for execution). Likewise, during the After Hours Sessions, account holders are free to trade against the Market Maker's Buy it Now or Sell it Now prices, up to the available size being shown. If there is no longer an available quantity for the Buy it Now price (or Sell it Now price), the screen will show a price is Pending. The price of the card will be reset at the resumption of market maker supported trading during the next Live Session. While a card shows that one side of the price is pending, account holders are still free to trade on the other side of the price.

Criteria for Listing and Delisting on thePit1 exchange

Listing Cards

The athletes that comprise thePit1 exchange are both the marquee and emerging athletes in their respective sports.  Hence, the following criteria are usually met:
  1. The athlete has captured considerable market share via widespread trading.
     
  2. The athlete has a card that has a considerably high market cap (PSA graded population multiplied by the price of the card).
     
  3. The (PSA) Population Report for each graded card is sufficient to support active trading.

Delisting Cards

thePit.com strives to list actively traded cards.  Occasionally, however, due to a lack of account holder interest, it may become necessary to delist a card. Cards will be delisted if the management of thePit.com decide that there is not enough activity to support active market making.