Was just looking at that, your thought is possible but I am leaning towards ARCA blocking the ask in order to load at .016. ARCA was at .016 all day yesterday with 350k + bid...As of 2009, The NYSE Arca is the world's second largest electronic communication network (ECN) in terms of shares traded. It accounts for roughly 10% of NYSE-listed securities traded and 20% of Nasdaq-listed securities traded. Much like other ECNs, the NYSE Arca implements a liquidity fee/rebate program to improve overall market liquidity.
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