If you look at a time and sales you'll see a ton of trades go off on the market 'D'. If you go to Sterling's website you'll see 'D' is denoted as FINRA. So I called and talked to the rep (who was very helpful) and he said that 'D' used to be the ATF (alternative display faculity). And then he said it is a non specific nasdaq exchange. I still didn't get what that was and he explained well you see for example "EDGA... that is a specific exchange", all the smaller exchanges are classified under 'D' which would be nasdaq non specific. So he emailed me a list of exchanges, which would be nasdaq non specific. I see these. I know these are routing strategies. Is this what would classify under 'D'??? NSDQADOT Nasdaq Singlebook - DOTA NSDQDDOT Nasdaq Singlebook - DOTD NSDQDOTI Nasdaq Singlebook - DOTI NSDQIDOT Nasdaq Singlebook - DOTI NSDQMDOT Nasdaq Singlebook - DOTM NSDQIO Nasdaq Singlebook - Imbalance Only NSDQMOPP Nasdaq Singlebook - MOPP NSDQSAVE Nasdaq Singlebook - SAVE NSDQSCAN Nasdaq Singlebook - SCAN NSDQSMART Nasdaq Singlebook - SMART NSDQSTGY Nasdaq Singlebook - STGY NSDQTFTY Nasdaq Singlebook - TFTY or would these me classified under 'D'??? DARK NFS - DARK FADE NFS - FADE NFS NFS - Fidelity PDQARCA PDQ ARCA ROUTE PDQBATS PDQ BATS Route PDQEDGA PDQ EDGA Route PHLX Philadelphia Stock Exchange PIPE Pipeline QIKD QIKD - Nexa/ITS QIKD Route QUIK QUIK - Nexa/ITS QUIK Route ATSBOOK Sungard ATS route DISP Sungard ATS route DPING Sungard ATS route DSWEEP Sungard ATS route There is just so much Stuff traded on 'D' I just need to know what the hell is D?????
I think most market makers print under D in time and sales. So if you route to a NITE, CITI etc... fills will print on D
D is for ADFN, (Trade Report Facility LLC), the equivalent of "others" in the tape. To figure out more specific info you have to look at the SubMarketId from UTDF: http://www.nasdaqtrader.com/content/technicalsupport/specifications/utp/utdfspecification.pdf Code Value Q NASDAQ OMX TRF A NYSE Amex TRF B NASDAQ OMX BX TRF C National Stock Exchange TRF I International Securities Exchange TRF J EDGA Exchange TRF K EDGX Exchange TRF M Chicago Stock Exchange TRF N NYSE Euronext TRF P NYSE Arca TRF W Chicago Board Options Exchange TRF X NASDAQ OMX PHLX TRF Y BATS Y-Exchange TRF Z BATS Exchange Inc TRF <space> No sub-market; Trade originates from FINRA Alternative Display Facility.