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Re: None

Wednesday, 01/22/2014 12:03:14 PM

Wednesday, January 22, 2014 12:03:14 PM

Post# of 42188
For those looking at L2 and don't understand what is going on here:

Each market participant is recognized by the four-letter ID that appears on level II quotes. Here are some of the most popular ones: NITE, ETRD, SCHB, TDCM & ARCA.

NITE - wholesaler
SCHB - wholesaler
TDCM - retailer
ETRD - retail ECN
ARCA - an ECN

NITE : This is the king MM of the OTCBB. He intimides traders and other MMs use that to their advantage knowing that he scares them. That's why NITE is the shaker on most stock runs; he is the most common ax. NITE could be on the ask all the time, he could be leading a dip scaring sellers to SCHB and TDCM on the bid.

Other ECNs : ARCA, BRUT, BTRD, INCA, INTL, ISLD, REDI