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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: gpowell who wrote (20489)	3/31/2000 4:06:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 29970

Again the market orders are directed to the book, assuming there are not offsetting market orders, and they pick up the volume regardless of its distribution according to price priority. (Time priority on equal booked price). The fixed point defined by execution price becomes the effective center of the distribution and therefore determines whether MM involvement is necessary. Mostly that isn't the case. At least 95% of orders are MM transactions as agent. Usually it's 99% but over the last three days, that has dropped to say, 95%.