Nasdaq "Total View"

[NY_HOOD]

this is the level 3 that i think everyone is talking about. does it display all stop loss orders?

 

[Moderate]

level 3 is not totalview lol

 

[hwkaiser]

Quote from Moderate:

level 3 is not totalview lol

If not, could you please provide insight to what is level 3? Thank you.

 

[hwkaiser]

NY Hood,

found this on investopedia... I too would like to know if MM's see stop orders..

http://www.investopedia.com/terms/l/level3.asp

 

[Bob111]

A trading service consisting of everything in Level 2, plus the ability to enter quotes, execute orders and send information. This service is restricted to NASD member firms that function as registered market makers.

doesn't really mean much. quotes-ok,execute orders? away from market? and what information they are sending? to whom?
really confusing explanation imo

 

[hwkaiser]

Quote from Bob111:

doesn't really mean much. quotes-ok,execute orders? away from market? and what information they are sending? to whom?
really confusing explanation imo

wasn't meant to be an explanation, just a reference... in another thread NY HOOD started someone mentioned he was previously a MM and his explanation was in line with the investopedia excerpt...albeit very incomplete.

I am still seeking a thorough explanation as well.

 

[heavyhitter78]

I could be completly wrong but from the description given it almost seems like a bloomberg terminal, but just dressed up differently.

 

[NotyoBabyDad]

I use a level III and we CAN NOT disclose the information

 

[plodder]

Wait for level IV. It will compound the confusion wrought by levels II and III.

 

[heavyhitter78]

Quote from NotyoBabyDad:

I use a level III and we CAN NOT disclose the information

Can you disclose where you work at?

Never heard of a MM getting excited over $260.00