>>1) Preferencing or SOESing a market maker at the ask, who has no intention of filling your order,
Eric,
I used to be suspicious of MM's "backing away" from preferenced SNET orders, but I really don't think it happens that much. In case you didn't know, they ARE required to fill any preferenced order they recieve, up to the size of their quote while their quote is still live--but only the first order, not multiple orders. It is pretty much impossible to get a SNET order filled in a very fast market, as the MM quotes are being picked off electronically by SOES orders. And SOES orders may not get filled either, because there are so many of them. You probably already knew this, but I thought I'd tell you just in case...
wily |
