Level 2, why not buy and sell to another participant?

[N Rothschild]

because you cant place a limit to sell under the market.
im guessing you have never traded DMA before?

 

[SanMiguel]

because you cant place a limit to sell under the market.
im guessing you have never traded DMA before?

Only recently, I use it all the time but only to trade either within the spread or reduce the spread to 0 when I want to place an immediate trade.

 

[Jaydee]

If they placed an order to sell x amount of shares with a limit of 600, they would automatically hit the best bid. It would, effectively, act as a market order.