IQFeed Level 2 problems

F

funky

I just setup IQFeed/Quotetracker and I'm noticing that many market makers on the level 2 screen are not there. Has anyone had this problem? I'm thinking about trying Marketfeed instead because of this. I am comparing it to my current setup which is Speedtrader/Instaquote level 2.

i've attached the two different screens....
 

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The first thing I see is that the symbol you are watching, "SPY" is
traded on AMEX. Level 2 data is only on NASDAQ stocks. The information we
are transmitting on SPY is not true Level 2 data. Your other service is also
providing data that is not true Level 2, but they are including more market
makers for what they are transmitting.
 
Speedtrader has customised their service to include additional market
makers. We provide Level 2 data directly from NASDAQ, but SPY is not traded
on NASDAQ, it is traded on AMEX. AMEX does not transmit LEVEL 2 data.
Whatever data you are seeing on SPY as Level 2 is NOT LEVEL 2. We will
make no effort to provide Level 2 data on a symbol that is not traded on
NASDAQ, since no Level 2 data exists.
Whatever information you are receiving as Level 2 on this symbol from us
or Speedtrader is not accurate, is not Level 2. We will not be enhancing
this type of data, it is not actual Level 2 data.
If this does not clarify this issue, please contact Speedtrader and ask
them why they provide this inaccurate Level 2 data.
 
i just pulled up the ARCA Web Book and it is more detailed than my level 2 screen from IQFeed. I guess I should just forgo the level 2 subscription and just use the free ARCA Web Book!!!

lol!!!
 
Quote from funky:

i just pulled up the ARCA Web Book and it is more detailed than my level 2 screen from IQFeed. I guess I should just forgo the level 2 subscription and just use the free ARCA Web Book!!!

lol!!!
More...

If you want reliability, I would limit interaction as much as possible with anything dealing with ARCA.
 
just signed up for trial of marketfeed....this level 2 info includes NYSE, NASX, CBOE, BOSX, AMEX, and ARCA. I guess these are just aggregates for all the little ones that belong to each exchange. either way, this is much better lvl2 info than IQFeed. However, it only includes the first inside bid/ask tier for each market. So what's the point? hmmm..... ARCA web book looks better and better.....
 
Funky,

I got some more info from IQFeed and we are looking into adding the ability to see the various regional exchanges on the Level II window for non-NASDAQ stocks.
 
Quote from j_medved:

Funky,

I got some more info from IQFeed and we are looking into adding the ability to see the various regional exchanges on the Level II window for non-NASDAQ stocks.
More...

Thanks. Marketfeed lvl2 is good, but they don't have multiple tiers for each exchange. If this would be possible, then I would definitely go with lvl2 feeds from whoever provided it.

As for the support, you are first class. Kudos for the help and the quick responses!
 
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