Level 2 market depth

The level 2 window displays the selected symbol’s market depth. Depending on whether the data refers to a Canadian or U.S. exchange, this in-depth data can be displayed in different ways. 

Canadian exchanges

You can view market data for symbols listed on any Canadian exchange by price, broker, or order.

This means that market data may be displayed as one of the following:

  • Market by price: all orders from each broker at a given price level are combined and shown as a single record.

     Market by price

  • Market by broker: each broker is displayed separately at all of the price levels they currently offer for orders.

    Market by broker

  • Market by order: each outstanding order in the order books is sorted by bid or ask price and shown separately as a single record.

    Market by order
Note: when viewing market-by-price data, if you enter a symbol that is currently trading on multiple Canadian exchanges, you will only see data from exchanges included in your data package.

When viewing market-by-broker data, if you enter a symbol that is currently trading on a Canadian exchange, an ID column displaying the broker ID information will appear in the level 2 quote area.  
When you subscribe to a level 2 data package for any Canadian exchange, the default display for your data is market-by-price. You can upgrade your subscription at any time to see market-by-broker or market-by-order data.

Once you upgrade your subscription to receive real-time level 2 data, you can edit the settings to customize the display for Canadian exchanges. See Level 2 settings for more information.

U.S. exchanges

You can view market data for symbols listed on any U.S. exchange based on:

  • Price

    US market by price

    or

  • Broker (for NASDAQ only)

    US market by broker
This means that market data may be displayed as one of the following:

  • Market by price: all orders from each broker at a given price level are combined and shown as a single record.

    Market by price

  • Market by broker (for NASDAQ only): each broker is displayed separately at all of the price levels they currently offer for orders.

    Market by broker
Note: when viewing market-by-price data in the level 2 window, the first few rows of the level 2 quotes area will display level 1 market data, so all venues where the symbol is currently trading will be visible. The remaining rows of the level 2 quote area will show level 2 market data as market by price.

When viewing market-by-broker data, if you enter a symbol that is currently trading on NASDAQ, an ID column displaying the broker ID information will appear in the level 2 quote area. 

Canadian and U.S. exchanges

When you subscribe to level 2 market data entitlements for multiple exchanges, you have the option to view this data in a consolidated view that presents all exchanges where a particular symbol is being traded, or you can view it one exchange at a time.

This means that all market data can be viewed as:

  • Consolidated into a single record

    Single record

  • One exchange per record

    One exchange per record
If you have subscribed to market data for multiple exchanges, the information will be consolidated into a single record by default. You can customize this setting at any time. See Level 2 settings for more information.
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