Ok... so what is your trading software? I'd like to hear from the Nasdaq guy in regards to Totalview and the Brut book.
I am only going off the version eSignal offers but if something named Totalview excludes all ARCA and ISLAND info it's far from total for me.
That is absurd. If you want ARCA and ISLAND then subscribe to them. Why the hell would nasdaq bother collecting and redistribution data from other exchanges?
TotalView includes the full depth of market, all price levels, in both the NASDAQ Market Center and Brut ECN. In that regard, the full Brut book is included in TotalView. The additional liquidity, along with the speed and Opening/Closing Cross information, give TotalView users a clear advantage over legacy Level II users. Oliver Albers The NASDAQ Stock Market, Inc.
The entire Brut book is in TotalView (not just the first five price levels). This has been true since April 2005. The same is also true for every other market participant (including SIZE) â TotalView shows you the entire Nasdaq book, at all levels. This is why TotalViewâs liquidity is 100% greater than Level II within .05 of the NBBO and fifteen times greater than Level II overall. Oliver Albers The NASDAQ Stock Market, Inc.
Marc, We seem to be displaying all the BRUT data that NASDAQ is sending. Below is a screenshot of TotalView with all the MM's filtered out except BRUT. I suspect that there is either an issue with the version of eSignal Pro you are running or a server related issue. Either way we'd like to help track down the problem. Could you Private Message me your eSignal Username and contact information? Alternatively, you can contact our Support Department to receive further assistance.
Ok, so just to confirm... You cannot see the actual depth of BRUT orders? (ie. I have bid at 1.50 placed at a time of 09:29:00, I want to be able to see where in line this order is... whether it's got very little shares in front of it or a lot of shares.) The reason is for credit trading, since you need to know where you are in terms of getting filled before the price moves away from your order. Pete
You could always look at the current depth before yours is placed and then look again after it is acknowledged to see if anyone jumped in front of you during the round-trip.
This doesn't really work when I've the order could sit there for hours. Who knows if an order has been pulled in front of me, or if it's been hit, etc... That just won't work.
While we're actually on the topic, can someone tell me what they see with Total view in terms of data showing likely opening prices and likely closing prices. Does Totalview show a "likely opening price" value which keeps changing premarket until the open for example and then it actually opens at that value? Is it a reliable indication of what the opening price will be?