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GT Advanced Technologies, AŞ Message Board

  • cavedraco5 cavedraco5 Jul 17, 2013 2:46 PM Flag

    Question to the GTAT MB Brain Trust

    I watch T&S, Level II, and Open Book to check on the bid vs ask ratio,

    I sometimes notice that when I buy into an Offer(ask) that is reflecting a certain number it often ends up being filled with no change in the offer? Also it tends to be filled with fractional numbers that I am unable to use.

    What is that? Are these MM games where they hide their orders? Or do institutions have some slick way of accumulation\shorting stocks that retailers don't?

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    • I'm not fully aware of the market mechanics. There are a lot of ECN's, each with its own rules, then there are dark pools and who knows what's going on between the prime brokers and DTCC.

      As far as I can see in through the usual level 2 services, market makers (and maybe hedge funds / quant funds / HFT guys) seem to have the ability to intercept orders at prices that contain cent fractions. I can never see standing orders at cent fractions in "market depth" views though.