NY Hood, found this on investopedia... I too would like to know if MM's see stop orders.. http://www.investopedia.com/terms/l/level3.asp
doesn't really mean much. quotes-ok,execute orders? away from market? and what information they are sending? to whom? really confusing explanation imo
wasn't meant to be an explanation, just a reference... in another thread NY HOOD started someone mentioned he was previously a MM and his explanation was in line with the investopedia excerpt...albeit very incomplete. I am still seeking a thorough explanation as well.
I could be completly wrong but from the description given it almost seems like a bloomberg terminal, but just dressed up differently.