ARCA defininely trades with other ECN's and market makers in the after hours sessions. Please note that, before the open, market makers are not obligated to fill orders at their posted price. However, ARCA will preference them and, after an adequate delay without an execution, your order will be posted as an ARCA order on level II. For an ECN quotes, you will receive an instant fill. Best of luck, -Eric
Dufferdon, if by the time your order gets to Level 2 you are no longer on the inside , it may not show . but as soon as your price display on the inside you should see your order.
Some data feed providers display only 1 level of each ECN on Level 2. Some display 2, 3, or more levels of the same ECN. So for example if you placed a sell order ISLD at 50.85, and there's another sell order on ISLD with lower price, say 50.7 your order will not show up on some Level 2 windows. It should however show up on ECN book. I hope this helps Jaba