Note that was a post from 2004. You used to be able to price like 20.101, and get in front of a 20.10 order.
That's interesting...do you mind providing a link or telling how you found out that visible orders on INET jump ahead of hidden orders? I wonder if this is changing with the integration of INET into NASDAQ..
Honestly, I don't remember anymore. But my guess is I found it either on the NasdaqTrader or Island sites. I had actually done an experiment at one time to prove to myself it really did work that way. If I find a link I'll post it here. I wouldn't think that would change with the integration, but who knows.
from memory, what he says is correct. i believe (and since i can't 100% remember it, i'm putting that caveat there) that i did the following: placed a hidden order at .xx2c got filled for part. a VISIBLE order went in at .xx2 trades went there, and his size was reduced. none of my order was filled. i then moved hidden to .xx4 and got hit. i don't want to swear to it, but i'm reasonably certain this happened.