Is Level 3 Attainable?

[LostPigeonCoo]

Do you think the public will ever have a chance to pay a fee to have Level 3 Access? Its the fastest way to trade.
It was a while untill level 2 became Attainable at first i think, so what about level 3? Would you use it?

Do you think you have a better chance in winning the markets with Level 3? Has anyone used level 3 for a firm? Did it help your trading?

Electronic Trading: Level I, II and III Access

 

[NetTecture]

What for?

Now let me say that I say that as a user of Zen-Fire/RIthmic for futures trades. They submit my order within a millisecond after getting it

Do not tell me that is unusually fast and not available for stocks?

 

[LostPigeonCoo]

It is the fastest way to execute a trade and is typically found only on the trading floors of brokerage firms and market makers.

Taken from here.

Electronic Trading: Level I, II and III Access

 

[NetTecture]

It is the fastest way to execute a trade and is typically found only on the trading floors of brokerage firms and market makers.

Taken from here.

Electronic Trading: Level I, II and III Access

My god, stock trading is primitive Seriously.

I am basicalyl a retail customer for futures. Point.

My trades are approoved and routed to the exchange within half a millisecond from arriving at the broker. I can do all kinds of crap (using their API) like having time set orders, or have stops triggered on OTHER instruments.

And that is unusual for stocks? Whow 21st century hates you

 

[A Dashing Blade]

It should be noted at this stage,that the link LostPigeonCoo cites is purely related to the US markets and bears little resemblence, in practice, to anything that goes on the other side of the Atlantic.

 

[LostPigeonCoo]

It should be noted at this stage,that the link LostPigeonCoo cites is purely related to the US markets and bears little resemblence, in practice, to anything that goes on the other side of the Atlantic.

I have heard of UK MM, using Level 3 in the UK, which is diffent i think.

 

[A Dashing Blade]

My understanding is that our leval 3 simply decomposes the size at each price into it's constituant componants ie into firms/size.
Can't see it has any speed improvements over level 2

 

[LostPigeonCoo]

Do you have a edge trading with Level 3 over Level 2 traders?

 

[Hercules88]

hmm interesting i had never even heard of level 3. I'm trying to learn as much about market makers as I can, and seeing what tools they use can help me visualize what they are doing.

 

[charliechan]

i believe level 3 is standard in australian markets. may be worth looking at www.asx.com.au may have more info?...

 

[raysor]

Do you think the public will ever have a chance to pay a fee to have Level 3 Access? Its the fastest way to trade.
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No. You have to be a market participant.

 

[DionysusToast]

You can get L3 very easily. It's available to anyone - it shows all bid/offers per participant and not just the best one.

I don't think it makes much difference on a fast moving stock except adding a lot of noise. Try it out for a month.

 

[raysor]

You can get L3 very easily. It's available to anyone - it shows all bid/offers per participant and not just the best one.

I don't think it makes much difference on a fast moving stock except adding a lot of noise. Try it out for a month.

That's Level2
Level3 has the ability to input orders.

 

[DionysusToast]

Yup - I'm getting it mixed up with Totalview !

 

[coopster]

Level 3, pah! I want level 4. :whistling

My thoughts and reflexes are slower than the milliseconds a L3 system could give me.

Its a bit like a Learner driver fitting his Vauxhall Corsa with Carbon Brakes to stop 1/10 second quicker.

 

[new_trader]

No. You have to be a market participant.

You also need to wear special glasses, otherwise it looks all blurry.

 

[raysor]

What about the RSPs?

 

[nunrgguy]

I'm a 3rd level thetan in NLP. Is that the same thing?

 

[spreader_legger]

Not sure .... I think I'm ready for level 4 though

I'm a 3rd level thetan in NLP. Is that the same thing?

 

[Michael8667]

Where would one get level 3 from?