About 20 minutes ago I was watching cable when all of a sudden a whole bunch of bids/offers hit the screen for about 10 seconds (I say "a bunch" of orders, bearing in mind this is low liquidity time so it's a lot relatively speaking). I screenshotted them, below. You can see that it starts with 1M bid half a pip above existing 1M bid (that's why the bid amount doesn't change in the screenshot), then 1M offer half a pip below current 6M offer and the bid pulled, then vice versa, etc. Market doesn't move and I'm certain these orders aren't being hit, it's low liquidity right now and it's just a 1M order bouncing half a pip away from the bid and offer. Is that some sort of trading algorithm? What's the point of its jumping around, what's it trying to do?
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