Effective yesterday, the Nasdaq became fully operational (or so they claim) as an exchange for NYSE and AMEX listed stocks. As part of this change, the Nasdaq has managed to fuck up just about everything in sight. (And no doubt that is intentional as their entire purpose in acquiring INET was to return the license to steal to the Nasdaq market makers.
You think I'm exaggerating? Try placing an order for SDS on INET. Cannot be done effective yesterday. That is only one of the securities you cannot trade on INET anymore.
Also, if you look at the trades in the most popular ETFs (e.g. SPY, IWM. MDY), you will see trades occurring on the nasdaq outside the NBBO. This suggests to me that Nasdaq market makers are sandbagging orders and executing and reporting them only after they can insure they (the market makers) are able to slice a few cents on the deal for themselves. This is how it always was before the ECNs came into existence and leveled the playing field, BUT now Nasdaq owns and is in the process of destroying INET and the NYSE owns ARCA (I have not yet seen the destruction of ARCA, but I don't doubt it's coming).