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Basically, If a a stock is 20 1/2 - 20 3/4, and a market maker is on the offer
(20 3/4) representing a customer order for say 400 shares when another
customer comes in and wants to pay the offering for 700 shares. The manning
rule says that these orders must interact, thus crossing 400 hundred shares at
20 3/4, leaving 300 left to buy. What this does is ensure that both customers
get their entitled executions on at least the amount represented by that
particular market maker.
Rich Z.
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