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Re: fourkids_9pets post# 292006

Friday, 04/29/2016 10:51:39 AM

Friday, April 29, 2016 10:51:39 AM

Post# of 312015
When two legs of a trade are executed at different price points, BOTH legs are printed to the tape---hence the made up term of "heirs and spares"...

orders that don't meet minimum quote size are always "hidden"---in fact they are known only to the MM handling the order--and are not broadcast to the broader "market"--and will routinely get "bypassed" until another order comes down their particular pike---handled no different than AON orders and potentially will never get filled...

"legit" orders i.e. those of sufficient quote size are ALWAYS displayed if best at a particular MM...