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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?
Machiavelli
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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...
Bob Frey
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Each line is normaly posted buy a market maker. With the exception of ECN's which are orders.
Chadsly
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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.
George
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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?
Bob Frey
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There is no one data base. The NASD is the largest I think. ECN's follow.
Chadsly
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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.
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