what stocks are you trading? i trade at brown and i believe most of my orders are routed through NITE, but i don't usually see limits put up just inside of mine by them...sometimes others do so, usually on bids rather than asks, but again it depends on the stock, the volume, etc.
if it is happening every time, that would seem like a breach of what should be their duties as a MM, and it seems odd anyway considering that while they have to represent your order, as far as i know they are free to sell or buy shares for their own account at the same price, without filling you first, as long as they maintain the bid or ask at the price you have specified...there have been plenty of times that i was on the ask at xx.98 for example, and was the only offer, and shares traded there without my being filled, but the ask never went to xx.99 or higher, so by the rules i was not due a fill
carl |
