AMEX Trading

Discussion in 'Trading' started by Hurricane, May 30, 2003.

  1. I placed a limit order to buy shares of an AMEX listed security. I got a partial execution which was followed by a rise in the stock price. I left the unfilled portion of the buy order alone and tried to place a sell order (a limit order at the bid price) for the position I now had.

    The order was hung up and I thought it was a technical problem. After some research, my broker told me that there was a restriction at AMEX on having simultaneous buy and sell orders for the same stock. I don't believe this same restriction exists at NYSE.

    Anyone familiar with this?
  2. Yeah, I've seen it with IB. Guess they don't want us 'making markets' in competition with the spec.
  3. Only if you are routing both your buy/sell orders to the amex specialist?
  4. It was with IB. If I route one to AMEX and the other through SMART execution, would that work?