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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Eric P who wrote (4631)10/4/1999 10:09:00 AM
From: LPS5  Read Replies (1) of 18137
 
Guys,

Before anyone gets their shorts in a bunch, there are two glaring - almost laughable comments by the other party(s) in Steve's message (not Steve):

1. Level III has nothing to do with the Instinet book. Level III is the same as Level II, on a designed interface or a NASDAQ EWN, BUT - this is the only difference -
gives the market maker his ability to enter quotes and toggle his bids and offers up and down.

2. The Instinet book is not currently available to retail clients or to broker-dealers who do not have an Instinet subscription. Maybe it will be one day, but currently, the full book as you'd see on an Instinet terminal is NOT available. If anyone tells you it is, they're mistaken or don't know what they're looking at.

Thats the deal.
LPS5
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