Paychest Inc (PYCT)

[adanac]

If dom is right when he says "MMs ONLY MATCH BUYER & SELLER, and DON'T PARTICIPATE IN THE TRADING".....LOL (I don't believe it for a minute)

Then how did the following 3 trades happen within 1 minute

AUG 09 14:43:23 Q .0001 500,000
AUG 09 14:42:41 Q .0002 2,000,000
AUG 09 14:42:28 Q .0001 1,000,100
(2 hours since last trade)

BUYER (OR SELLER) WAITING @ .0001 FOR 1,000,100
OTHER SIDE COMES ALONG (NOT SHORTED)
TRADE IS FILLED

THEN 13 SECONDS LATER A BUYER COMES IN @ .0002 FOR 2,000,000
A SELLER IS FOUND (NOT SHORTED)
TRADE IS FILLED

42 SECONDS LATER A BUYER @.0001 FOR 500,000
A SELLER IS FOUND (NOT SURE)
TRADE IS FILLED

WHY DIDN'T THE ABOVE 2ND TRADE GET THE 500,000 FOR .0001, AND THEN 1,500,000 AT .0002.

BECAUSE THE MMs CAN PLAY WITH THE TRADES.
IT IS NOT NBB (NATIONAL BEST BUY), SUCH THAT THE 'BUYER' GETS THE LOWEST PRICE.

IF THE .0002 WAS IN ALL DAY, THERE IS NOTHING STOPPING AN MM FROM BUYING AT .0001 THEN SELLING TO THE PERSON WILLING TO PAY .0002

INSTANT 100%

THEN TAKE IT BACK DOWN TO .0001 FOR THE NEXT BUY.