GILT-EDGED MARKET-MAKER (GEMM)
\ɡˈɪltˈɛd͡ʒd mˈɑːkɪtmˈe͡ɪkə d͡ʒˈɛm], \ɡˈɪltˈɛdʒd mˈɑːkɪtmˈeɪkə dʒˈɛm], \ɡ_ˈɪ_l_t_ˈɛ_dʒ_d m_ˈɑː_k_ɪ_t_m_ˈeɪ_k_ə__ dʒ_ˈɛ_m]\
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A PRIMARY DEALER in GILTS that commits to quoting twoway prices and bidding competitively at primary auctions. While GEMMs were once required to be separately capitalized legal entities, they may now form part of larger financial groups.
By Henry Campbell Black
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