I could, but that's beside the point I think. I know some here are sensitive about qs related to market makers because of accusations of being 'mean' 'manipulative' market makers, but I'm not thinking any of that. I assume mms are computer driven. I'm just trying to understand better how those algorithms might be working.
They don't "reflect" those orders. That is a double edged sword. The market has to move through your market and have enough liquidity to cover "orders ahead" and your execution. I don't like AON, and I detest Etrade executions. They execute electronically, and their customer service and clearing have the stupidest idiots in the industry. Don't even get me on the trading room. I don't know how they ever passed their exams.
Market Data 
Markets 
AI
