what is the difference between market depth and level 2 quotes

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

 

noone had an answer?

 

Here is a brief description of Level II.

http://www.investopedia.com/articles/trading/06/Level2Quotes.asp

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.

 

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?

 

Correct

 

Thanks

 

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