Very odd indeed. This is a complete regression to how the market was traded 20 years ago when every bank used to have a NASDAQ market making desk that would mak

Very odd indeed. This is a complete regression to how the market was traded 20 years ago when every bank used to have a NASDAQ market making desk that would make a principal market in any security you wanted. Those desks all got wiped out when spreads collapsed because HFT firms could do it for a fraction of the cost.