That&#x27;s not how internalizers work. The right sequence is the following:<p>1. Send limit order to broker.<p>2a. If timberhill&#x27;s resting order is at or better than the NBBO, your brokerage informs him that he just got a fill.<p>2b. If timberhill is worse than the NBBO, the order is routed to the public market and timberhill doesn&#x27;t hear about it until INET&#x2F;ARCA&#x2F;whoever puts it (anonymized) in the quote stream.