These Real-Time Market Depth ECN quotes are provided by Archipelago and do not necessarily represent the best bid or ask in the marketplace. They only represent bids and offers from ARCA/EX and INET. The complete Nasdaq Level 2 quotes include other ECNs like BRUT & REDI and market makers like GSCO (Goldman Sachs) & MLCO (Merril Lynch), to name a few. In general, institutions prefer to use INET while daytraders and proprietary traders often use ARCA extensively, although there is nothing preventing them from using the other ECNs or routing their orders through market makers.
ARCA Book Disclaimer
This information is provided for informational purposes only and should not be used for making investment decisions. Archipelago believes its data is reliable but is not warranted or guaranteed to be timely or accurate. Archipelago and BannRonn Associates shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
Market Depth 