what is the Z exchange?

I see trades on the tape that say Z as the exchange.

Usually I see Nasdaq Third Market,Listed stocks,NYSE,Boston etc..

but Z is new to me. Where is this?

 

futures Z?

 

Equity markets.

 

Exchange "Z" (or M if you see them) Represent the pooled trades from a Dark Pool. Usually they are priced at GSBO prices (GSBO DP pricing typically) and are outside NBBO transactions.



Most trading platforms do not show that. What platform are you using?

 

this is a BATS print.