I have searched the net for a while and could not find the answer. But i know you guys will know the answer here I am not a book trader, but trying to educate myself more. I know what is NYSE open book, Nasdaq totalview and understand the differences. I am wondering how deep the price is is quoted in each of these books for a given stock. As far as i have found, it seems like the depth of quote depends on the liquidity of the stock. Is there a fixed number ? I also read that NYSE will quote only 5 to 10 deep on each side for any stock. Is this correct ? How about Nasdaq and arca etc ? Is the depth different for ETFs and leveraged ETFs and such ? Thanks in advance for explaining this topic. - s.