I put in a buy order for 16,000 shares for a security that is listed on Nasdaq. The order did not show up on Level II even though my bid was in the top 10 bid orders. I think the market makers are hiding my order so not to drive up the price. Does anyone know the answer? I thought the top bids with volume was suppose to show up on Level II.
Thanks.
2007-01-12 05:54:43 · 2 answers · asked by investor422349884 1 in Business & Finance ➔ Investing
Some orders are in-house exchanges. If my brokerage has three people who place a buy order for 100 of XYZ and two people with a sell order for 100 of XYZ, then the broker really needs to go to the exchange for 1 block (100 shares) of XYZ, the other is simply an internal accounting change for two blocks of stocks. I see that with my brokerage when I get an instant sale notice immediately after placing the order. When there is a pause to placing a market order, they had to go to the exchange to satisfy it.
2007-01-12 06:00:51 · answer #1 · answered by Rabbit 7 · 0⤊ 0⤋
I think that Level II shows only orders posted by Market Makers.. Unless you have direct rounting..
Global Investors Community,
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2007-01-12 05:58:51 · answer #2 · answered by Gediminas V 2 · 0⤊ 0⤋