Neither do the dealers determine the term structure; the dealers have to buy and sell at prices that are in the market.

中间商也不能决定,中间商只能按照市场价进行交易

耶鲁公开课 - 金融市场课程节选

That means that it's harder to make a market for it, so the dealer wants to charge more.

这意味着,这样的品种市场很小,所以中间商要收取更多的费用

耶鲁公开课 - 金融市场课程节选

If you're a dealer, you've got to keep your bid-ask at market; otherwise, you'll get only one side or the other, right?

如果你是中间商,你的出价必须与市场一致,否则就只能拆东补西

耶鲁公开课 - 金融市场课程节选