but you'd have filled .05 before it went to .053 (if you were in there selling before that break).
Not necessarily. MMs have pretty much free reign down here and can make trades happen wherever and whatever price and size they wish. Or, as you correctly suggest, the order could just sit on their desk all day or bethrown in the garbage right off. In spite of changes to the system, including Nov 2009 where regulators made it illegal for MMs to 'jump' orders to fill another, the practice still continues. I do use AON orders on types like this. Protects you somewhat depending on your intent, but in this case it may have shot me in the foot.
MMs are in no way shape or form required to even deal with any order place on the lower boards.
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