What Can You Get with Level 2 Quotes?

Level 2 Quotes is the premium data feed powered by Nasdaq TotalView.

Level 2 Quotes provides quotes and orders at every price level for all Nasdaq-, NYSE- and regional-listed stocks on Nasdaq Center.

Order book of Level 2 Quotes

An order book is a list of orders that presents different offers from buyers and sellers for a specific security. It shows the prices and volumes that traders in the market are willing to buy and sell the security for.

With Level 2, you can see up to 50 best bids and asks and an order book depth chart to show the accumulated volume depending on price level.

Market by Order (MBO) of Level 2 Quotes

Level 2 also provides Market by Order (MBO) data, from which investors get to view the composition of each bid/ask in the Order Book above.

For example, from the order book above we see that the market is willing to buy 6 shares at $137.02 per share. We should note that 6 is an accumulated number. In MBO, we can see that this order book is comprised of two buy orders, with ask sizes at 1 and 5 shares respectively, as shown below.

*Market Participant Identifier (MPID) is used by FINRA member firms to report trades. Click here to view all the valid MPIDs.

0
0
0
Securities trading is offered to self-directed customers by Webull Financial LLC, member SIPC, FINRA. All investments involve risk, including the possible loss of principal. You should consider your investment objectives carefully before investing. This is not a recommendation, investment advice, or a solicitation for the purchase or sale of a security. Additional info: webull.com/policy
Lesson List
What Can You Get with Level 2 Quotes?
2
How do Level 2 Quotes Help in Trading?
3
How does Auction Crossing NOII Work?
4
How to Get Access to Level 2 Quotes