InvestorsHub Logo
Followers 0
Posts 53
Boards Moderated 0
Alias Born 09/27/2010

Re: Eternalist post# 76074

Tuesday, 10/26/2010 4:50:27 PM

Tuesday, October 26, 2010 4:50:27 PM

Post# of 135273
Eternalist - perhaps I'm missing something here. You're saying market makers are removing 420 off of your buy orders and marking them as sells?

I'm thinking they can't process your order if its an odd-lot.

see below excerpt from the Quote Rule.

Obligations of responsible brokers and dealers.

1. Every responsible broker or dealer shall promptly communicate to its exchange or association (as the case may be), pursuant to the procedures established by that exchange or association, its bids, offers, and quotation sizes with respect to any subject security.

2. Subject to the provisions of paragraph (c)(3) of this section, every responsible broker or dealer shall be obligated to execute any order to buy or sell a subject security, other than an odd-lot order, presented to him by another broker or dealer, or any other person belonging to a category of persons with whom such responsible broker or dealer customarily deals, at a price at least as favorable to such buyer or seller as the bid price or offer price comprising such responsible broker's or dealer's published bid or published offer (exclusive of any commission, commission equivalent or differential customarily charged by such responsible broker or dealer in connection with execution of any such order) in any amount up to its published quotation size.