Investing

Level 2 quotes question

  • Last Updated:
  • Jul 27th, 2020 3:55 pm
[OP]
Jr. Member
Feb 9, 2016
139 posts
2 upvotes

Level 2 quotes question

Does the level 2 quotes show all Limit and Stop orders or Limit orders only?

Thank you!
2 replies
Sr. Member
May 2, 2019
707 posts
937 upvotes
Vancouver
The latter. Not even all limit orders.

Your level 2 quotes come from one or more exchange/ECN/ATS. Those don't normally support Stop orders directly (therefore, they don't have them to share). You also won't see the orders that are hidden, or are on an ECN/ATS you don't have in your level 2 feed (including dark pools, which don't share that info at all).
[OP]
Jr. Member
Feb 9, 2016
139 posts
2 upvotes
yvrbanker wrote: The latter. Not even all limit orders.

Your level 2 quotes come from one or more exchange/ECN/ATS. Those don't normally support Stop orders directly (therefore, they don't have them to share). You also won't see the orders that are hidden, or are on an ECN/ATS you don't have in your level 2 feed (including dark pools, which don't share that info at all).
I see. Thank you!

Top