Yippy, Inc. (YIPI)

[BigBake1]

Well yes if it requires another brokerage, but you can have trades if they can internalize an order at the same broker. Etrade for example has a lot of penny stock players, it is quite possible that there is a buyer and seller for this stock and Etrade is able to process that order.

However if you have 2 different brokers, as you said it requires a matched trade and the brokers have to use a process of external applications to find a buyer or seller.

Without Market Makers there is no liquidity and well as you can see, it is practically dead.