Hey Miss D...don't know if you remember this or no

Hey Miss D...don't know if you remember this or not...I'm not sure exactly when, but believe within the past 10 yrs...the SEC (or some governing body) enacted a rule that market makers must show how many shares they are selling or buying...on the OTC, the minimum is 10K shares. Before that rule...they could show whatever they wanted...so, you were always in the dark as to how many shares were really there...this was a "transparency" rule/regulation, to supposedly help the investor...(I remember when it went into effect, my trading group & I thought it would give us a better trading advantage) yeah, right. Since that rule came into play...we always see different MMs showing 10K on bid or ask. I know for a fact that AON orders don't show up on L2 screens, & are generally their lowest priority for execution...& I've "heard" (from peeps that were in the business) that overseas orders don't have to be shown also...(would need to ask our Belguim Police Officer friend on that one) These are just a couple of reasons you will see the MM only showing their minimum 10K...altho, I'm relatively sure there are also "other exemptions" for only showing the minimum...as we all know...we see it a lot when dilution is happening, or a big buyer is getting an order executed...& both of those circumstances usually give us the T-trades after market close. And you're correct...you usually don't see a 10K share T-trade...no clue as to what that is all about.