what is the Z exchange?

I see trades on the tape that say Z as the exchange.

Usually I see Nasdaq Third Market,Listed stocks,NYSE,Boston etc..

but Z is new to me. Where is this?
 
Quote from noob_trad3r:

I see trades on the tape that say Z as the exchange.

Usually I see Nasdaq Third Market,Listed stocks,NYSE,Boston etc..

but Z is new to me. Where is this?

futures Z?
 
Exchange "Z" (or M if you see them) Represent the pooled trades from a Dark Pool. Usually they are priced at GSBO prices (GSBO DP pricing typically) and are outside NBBO transactions.



Most trading platforms do not show that. What platform are you using?
 
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