what is the difference between market depth and level 2 quotes

Discussion in 'Index Futures' started by cwl18, Aug 4, 2007.

  1. cwl18


    Hi all

    i admit i am a newbie in trading and i have been reading a lot of threads around DOM, market depth etc as i would like to get a more understanding of the topic.

    one thing i am not sure is the term of market depth (or DOM) and level 2 quotes, do they mean the same thing in terms of index futures such as ES or YM?

    i saw nasdaq have level 2 quotes and NYSE have openbook, do they mean the same thing as market depth or different in stocks?

    thanks in advance
  2. cwl18


    noone had an answer?
  3. Lucrum


    Here is a brief description of Level II.


    I haven't traded stocks in years so I haven't kept up with all the latest and greatest.
    The DOM on say YM or ES, unlike level II on a stock, will show only the price and quantity at each level not who the bid or offer belongs to.
  4. cwl18


    thanks for the link

    so can i say that there is no level 2 quotes on index futures like the e-minis? just a DOM?
  5. Lucrum


  6. cwl18


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