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Thursday, November 30, 2017 2:05:07 PM
DEFINITION of 'Level 3'
Level 3 is the highest level of quotes provided by a trading service and gives the institution the ability to enter quotes, execute orders and send information. This level of service is restricted to NASD member firms that function as registered market makers. A level 3 quote allows a person to enter into best execution trades as prices are being updated in real time.
Read more: Level 3 https://www.investopedia.com/terms/l/level3.asp#ixzz4zwYWbGOF
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