sorry obs
MM driven on samll caps usually means between two and five market makers who decide the price, depending on supply, demand, their inside knowledge, how much stock they have, how they are feeling on any particular day
sets driven is where punters, like us can post up our buy or sell requirements, through our brokers, and see if there are any takers.
so if i wanted to chance my luck at buying 200k minco at 13p, i cost post that trade and see if anybody wanted to sell to me. alternately, i could post the details that i wanted to sell 100k minco at 18p, and see if anybody wanted to pay that price..
all these buys and sells are then listed on the two sides, so traders can see exactly what is going on.