NEW YORK (CNNfn) - Bernie Madoff is chairman of Bernard L. Madoff Investment Securities, which he founded in 1960. It is one of the largest market maker companies on Wall Street. It serves other securities companies, accepting buy and sell orders from brokerage houses and executing the trades.
Madoff Investment Securities profits from the spread, the difference between the bid price and the ask price on a stock. The company trades Nasdaq stocks and also makes a "third market" trading New York Stock Exchange stocks off the trading floor.
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