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»Forums Index »Archive (2017 and earlier) »IQFeed Developer Support »Understanding IQFeed's Level II data

Author	Topic: Understanding IQFeed's Level II data (3 messages, Page 1 of 1)
sappjason -Interested User- Posts: 8 Joined: Nov 5, 2009	Posted: Dec 1, 2009 08:33 AM Msg. 1 of 3 I'm new to streaming level II data and I wanted to make sure I'm understanding things correctly. When I watch Level II data on a NASDAQ stock (say RIMM), I see that there are a bunch of market makers offering quotes. So, this morning, I was playing around and I decided to bid for RIMM (below the current best bid) and low and behold, I saw an Update come through on my Level II feed. The update was marked as MMID-NSDQ (which made sense). Then, I added another limit order below my current one and I didn't not see this update. So, what I'm gathering is that IQFeed only sends me the BEST Level II quote for each market maker, not their whole depth? Doesn't that kind-a defeat the purpose? Is this an IQFeed disadvantage or am I misunderstanding how Level II feeds work? Thanks, Jason Sapp
DTN_Steve_S -DTN Guru- Posts: 2093 Joined: Nov 21, 2005	Posted: Dec 1, 2009 08:49 AM Msg. 2 of 3 You are correct. Nasdaq Level 2 is not complete market depth and it only displays the best bid/ask for each market maker.
sappjason -Interested User- Posts: 8 Joined: Nov 5, 2009	Posted: Dec 1, 2009 08:58 AM Msg. 3 of 3 OK. Thanks.....