DD Support Board and Research Team

[elbiatcho1]

Question about AON situations.
(if possible in pennyland)

Lets say I'm selling 15000 AON shares @ ask. Could MM display it as only 5000? Would an AON order even show up on L2?

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Situation 1:
Buyer attempts to buy 5000 shares at ask (limit) and never gets filled.

Someone else figures out I'm selling 15K shares, puts an order in after the first buyer for 15K shares @ ask and it goes through, taking out that asking lot.

First buyer is left hanging with 5000 shares at old asking price.
The new ask is now above what first buyer wants.

(no question here, just asking if that's correct)

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Situation 2:

Buyer attempts to buy 5000 shares at ask (limit) and never gets filled.

Someone makes a market order buy for 20000 shares, which takes out my 15K AON sell and puts 5K on bid.

Would the the latter buyer's leftover 5K bid then supersede the first buyer's (ask what would now be a) bid?