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TJG

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Posts 27361
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Alias Born 06/20/2007

TJG

Re: oldstocks post# 2283

Thursday, 04/25/2024 3:10:55 PM

Thursday, April 25, 2024 3:10:55 PM

Post# of 2524
There was a regulation that went thru about 4 years ago...where they had to Show all of the offerings on a stock... but alas the MM found a way around it, the use of the All of None and the fact that if an MM has more then one trader offering to buy or sell a stock the rule only was inturperted as saying if TJG has 10.000 for sale at .015 with MM OTCN and Oldstocks has 10.000 at the same price with OTCN then that MM only has to show one of our orders for that price... even if I put up 10K and you put up 90K same stock same MM and only one order has to show... now if CSTI gets an order for 10K he has to show it along with OTCN so we would see both orders, one from OTCN and one from CSTI

The other way they get around these inbetween orders is when MM kdo the buy if a trader belongs to a broker that offers the "Best Order Practice" E*Trade does that... If the Bid show .0113 as the price and I sell 25K shares I may get them sold for .0121 if the ASK is at .013 Because an MM offers to buy them at the better price if they feel they can hold them for a minimal amount of time and then dump them at .014 if news or something other then that comes along and sends the stock up.

As for the retail trader I refer you to this clip from Joe Pesci in the movie Lethal Weapon