RE:RE:ETrade strikes again . . . chrisp6712 wrote: That is a problem with OTC stocks. It isn't e-trades decision to show the bid it is up to the market maker.
HOWEVER, they do NOT have discretion to refuse limit orders. It doesn't mean THEY have to FILL them, but they DO have to keep them in the queue, and they can't ignore higher bid in favor of filling an order at a lower bid while bypassing the higher bid. Then when a seller comes up the order I played higher than the previous bid gets cancelled and why? Because?
They said the queue they had sent it too kicked it back (I'll paste in the error message below) but without giving any reason . . . I've asked for clarificatoin in case I made a mistake, but according to ETrade the mistake WAS NOT MINE . . . it was on the part of the exchange itself.
Further, there isn't "a" market maker, there are many, and it wasn't a market maker that rejected my order (they don't even HAVE that power), it was the exchange, the two are ENTIRELY diferent things . . . a market maker in general doesn't CARE if someone jumps his bid because he just has to provide one, he isn''t reqiured to the provide the lowest bid and highest ask or anything, just that they maintain a spread with the last trade somewhere in between.