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Non-Tech : MB TRADING
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To: wily who wrote (1517)10/22/1998 5:40:00 AM
From: Eric P  Read Replies (2) of 7382
 
Rick makes a very good point. Although you cannot post an ISLD order on Nasdaq which locks or crosses the market, you can execute against an existing ISLD bid which is beneath the inside bid (assuming you want to sell). Effectively, this will result in an execution which "crosses" the inside bid or ask, but without the need to post the order on Nasdaq.

One note: If a matching order cannot be found for your sell order at or beneath the inside bid, your order will instantaneously be returned to you unfilled. => since it cannot be posted on ISLD or Nasdaq due to the Lock/Cross market rule.

-Eric
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