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Re: wimike post# 17669

Wednesday, 09/14/2016 3:10:12 PM

Wednesday, September 14, 2016 3:10:12 PM

Post# of 38634


As you can see from this level 2 image - you only see the highest bid or lowest ask of each of the MM.

Underneath that ARCA 1.79 bid for 600 shares could be an order for thousands of shares at 1.79 - similarly an order to sell 100K shares could be lurking under those 100 shares at 1.80 ask on NSDQ.

the MM have Level 3 and see ALL the bids and asks at all prices.

At one time I could see all the NSDQ bids and asks but not anymore... I think it was just a glitch in the programming that allowed me to see Level 3 on NSDQ board.