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Non-Tech : Interactive Brokers / Timberhill
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To: aldrums who wrote (972)1/11/2001 10:35:37 PM
From: dli  Read Replies (2) of 9012
 
Alex,

let's assume the following scenario: ABCD is trading 50 x 50 1/4. You place two limit sell orders priced at 49 3/4 one on ISLD the other on INCA. This will change Nasdaq's quote to 50 x 50 1/16 with both ISLD and INCA offering at the inside ask. Now if someone takes your ISLD offer you'll sell out at 49 3/4 but someone taking your INCA offer will pay 50.

Hope this example clears it up.

Dave
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