specialist tricks this week

Quote from ryanmitcho:

definitely not updated every 10 sec- more like 30-40 seconds.
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I think it's not just that they don't update the book, they just don't execute the orders inbetween, that's why they remain on your screen so long, because they are still there! It's that BS liquidity killer rule that will make the NYSE like a bad and slow Nasdaq.
 
I have seen some strange openbook data in the past few days, like .30c crossed markets for no reason. So far I have not experienced the "liquidity quote" prints.
 
Quote from DaveN:



I've heard some talk of a "liquidity quote" coming to the NYSE. Supposedly, these will include and large quotes from the crowd.

My understanding is that the quotes from the crowd are not in the specialists book. Presumably, many of them are holding those quotes rather than giving them to the specialist, so they can save a bit in the executions (I'm just speculating on this point, however.)
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i think the new liquidity quote is the cause of what everyone is starting to see...as far as i know it started on an experimental basis last week, i have seen it in WMT and heard JNJ and MRK mentioned too to name a few...we started another thread on this with more info, i'll post the link if someone hasnt already
 
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