The exchange code 'D' (no one can exactly answer this ? 100%)

[WhiteOut56]

If you look at a time and sales you'll see a ton of trades go off on the market 'D'. If you go to Sterling's website you'll see 'D' is denoted as FINRA.

So I called and talked to the rep (who was very helpful) and he said that 'D' used to be the ATF (alternative display faculity). And then he said it is a non specific nasdaq exchange. I still didn't get what that was and he explained well you see for example "EDGA... that is a specific exchange", all the smaller exchanges are classified under 'D' which would be nasdaq non specific. So he emailed me a list of exchanges, which would be nasdaq non specific.

I see these. I know these are routing strategies. Is this what would classify under 'D'???

NSDQADOT Nasdaq Singlebook - DOTA
NSDQDDOT Nasdaq Singlebook - DOTD
NSDQDOTI Nasdaq Singlebook - DOTI
NSDQIDOT Nasdaq Singlebook - DOTI
NSDQMDOT Nasdaq Singlebook - DOTM
NSDQIO Nasdaq Singlebook - Imbalance Only
NSDQMOPP Nasdaq Singlebook - MOPP
NSDQSAVE Nasdaq Singlebook - SAVE
NSDQSCAN Nasdaq Singlebook - SCAN
NSDQSMART Nasdaq Singlebook - SMART
NSDQSTGY Nasdaq Singlebook - STGY
NSDQTFTY Nasdaq Singlebook - TFTY


or would these me classified under 'D'???

DARK NFS - DARK
FADE NFS - FADE
NFS NFS - Fidelity
PDQARCA PDQ ARCA ROUTE
PDQBATS PDQ BATS Route
PDQEDGA PDQ EDGA Route
PHLX Philadelphia Stock Exchange
PIPE Pipeline
QIKD QIKD - Nexa/ITS QIKD Route
QUIK QUIK - Nexa/ITS QUIK Route
ATSBOOK Sungard ATS route
DISP Sungard ATS route
DPING Sungard ATS route
DSWEEP Sungard ATS route



There is just so much Stuff traded on 'D' I just need to know what the hell is D?????

 

[exaltedangel09]

D is all the dark pools and edgea.

 

[etrader2478]

I think most market makers print under D in time and sales.

So if you route to a NITE, CITI etc... fills will print on D

 

[d138]

That's right it's trade reporting on FINRA.
EDGAX became exchanges recently.

 

[mastertrader456]

D is dark pools or late trades. Any trade that occurred not on a public exhcnage.

 

[eusdaiki]

D is for ADFN, (Trade Report Facility LLC),
the equivalent of "others" in the tape.


To figure out more specific info you have to look at the SubMarketId



from UTDF:
http://www.nasdaqtrader.com/content/technicalsupport/specifications/utp/utdfspecification.pdf


Code Value
Q NASDAQ OMX TRF
A NYSE Amex TRF
B NASDAQ OMX BX TRF
C National Stock Exchange TRF
I International Securities Exchange TRF
J EDGA Exchange TRF
K EDGX Exchange TRF
M Chicago Stock Exchange TRF
N NYSE Euronext TRF
P NYSE Arca TRF
W Chicago Board Options Exchange TRF
X NASDAQ OMX PHLX TRF
Y BATS Y-Exchange TRF
Z BATS Exchange Inc TRF
<space> No sub-market; Trade originates from FINRA Alternative Display Facility.