Question about Level 2's

Discussion in 'Trading' started by PokherPlayher, Nov 24, 2009.

  1. Hey all.

    I was hoping someone could help me with a problem.

    I'm currently using Sterling trader at a brokerage/prop firm in new york. recently a new "regulation" has been implemented so that i am not able to post bids and offers simultaneously.


    C is trading at 4.24 and 4.25

    i CAN NOT post an bid at 4.24 on Bats and an offer at 4.25 or higher on any ecn.

    does this make any sense?? can anyone help me with this issue?

    another example,

    if i have an order out to sell short at 4.30 (while the bid/offer is still 4.24 4.25), i can't place another order unless i cancel the first order.

    is this correct????