Differences between trades and quote, NYSE Data

Discussion in 'Data Sets and Feeds' started by Pierreg, Jan 9, 2010.

  1. Pierreg



    I have a question concerning general trading:

    What is the difference between "Trades" and "Quotes"?

    My question comes from the Nyse trading systems.
    If you look here:


    you will see that Nyse Technologie makes a difference between trades and quotes.
    I guess that is a terminology of NYSE systems, but I think it applies in a more general frame.

    I guess that all trades are not quotes, but some quote are in fact real trades.

    Do you know the difference? When does a trades becomes a quote?

    Thank you
  2. LeeD


    Trades are usually just what it say, that is trades. Quotes are usually bid/ask prices (with size).
  3. LeeD


    I mean to say "best bid / best ask" - the first level of the order book (market depth).