2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/208900We present a model that investigates the spontaneous emergence of randomness in equity market microstructure. The phase space analysis of our model exposes an endogenous source of fluctuation in price and volume. We formulate a control problem for maximizing price regularity and stability while minimizing entanglement with the market, representing the NYSE specialists' affirmative obligation to maintain `fair and orderly markets'.6 pages, 9 figures, to be presented at the Special Session on Models for Financial Market Microstructure at the 2nd IASTED International Conference on Financial Engineering and ApplicationsProbabilityDynamical SystemsOptimization and ControlStatistical Finance37N40; 60H10; 91B26text