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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (2249)	1/8/1998 4:44:00 PM
From: Brendan W	Respond to of 4969

When a deep discounter says that listed limit orders which improve the inside bid/ask will be "represented" on the NYSE, what does that mean? When I place a limit buy order on a NYSE stock inside the spread and, presto, the buy side moves up to my price and the size is my size, does that mean the third market has re-routed the order to the NYSE? Or is my quote service (Data Broadcasting) now reporting the inside bid from my third market? Also, what's the difference between a third market and OTC?