With no market makers it's hard to know for sure what's going on behind the scenes. It could be as simple as the trader gone for lunch or down the hall. It's more likely that there simply aren't enough shares identified as available to fill your order, and the broker-dealer isn't willing to fill them from their own account at that price, even if they have enough shares. Depending on how motivated you are to buy, you can either wait to see if more shares become available at your price, or keep increasing your bid until its executed.
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