I understand what L2s are and how they are used, etc. What I don't understand is where people like Ameritrade, Alphatrade, etc get these from. Everyone offers L2 quotes, but where do they get theirs from?
Posted by Machiavelli on :
From GOD LoL jkk.. anyways u shouldnt care where they come from ... you should only care that you are getting accurate quotes at a reasonable price...
Posted by Bob Frey on :
Each line is normaly posted buy a market maker. With the exception of ECN's which are orders.
Posted by Chadsly on :
Is there a database that stores them all for NASDAQ? Ameritrade doesn't call each MM every split second. I know most thinks it's stupid question, but I'm just curious.
Posted by George on :
quote:Originally posted by Chadsly: Is there a database that stores them all for NASDAQ? Ameritrade doesn't call each MM every split second. I know most thinks it's stupid question, but I'm just curious.
It is called the magic of networking. Yes, there is a master database that all MM quotes and ECN orders go to. Where is it located and who actually owns it? I have no idea. I guess that is what you are really asking. Is who owns the database?
Posted by Bob Frey on :
There is no one data base. The NASD is the largest I think. ECN's follow.
Posted by Chadsly on :
Thanks anyway guys. I'll guess I have to google around and see what I can find. You've given me some good terms to check out.