Replies to post #48437 on CBA Florida Inc. (fka CBAI)

[morley480]

In my understanding, brokers/MMs are supposed to get you the best deal but I always have to double-check their numbers on my bid/ask when I make a trade, as they often get the decimals wrong.

Goodness only knows what would happen if the trade went through with the mistaken numbers. In fairness, they double-check with me too. It is not all up to me. But I can see how mistakes can happen easily, including online trades.

[MrGreenStock$]

That's exactly why I didn't think it was a fat finger, that would've gone through in the mid .004s. The only way I would think a normal trade could have done that is if the guy set up an all or nothing trade at market and the only place it could get filled was .0011, though that is hard to believe for such a small order. It could also have been a privately brokered trade for shares someone wanted to unload for tax reasons. This time of year always has some crazy trades go through.

While it's true that MMs are supposed to give us the best deals as traders, they themselves can trade between each other anywhere. Kind of like if I decided to sell my shares to my buddy at half price and I just happen to have the ability to make the trade without using the proper method(MMs). I've also had them fill my buy at under the bid with 6 MMs above me. Why? I don't really know, though I was happy to get the cheapies!

We've also seen the same thing when a 'higher than the ask' trade pops up, although people are usually happier about those..