Level II quotes definition

Level II quotes is NASDAQ real times quotes system that shows bid and ask prices as well as bid and ask sizes by varios market makers for each stock. For example, Level II quotes for ABCD stock that last traded at 10 may show the following:

• 4 market maker offering to sell 20000 shares at 10.40
• 3 market maker offering to sell 1000 shares at 10.30
• 2 market maker offering to sell 5000 shares at 10.20
• 1 market maker offering to sell 2000 shares at 10.10
  
  
• 1 market maker offering to buy 1000 shares at 9.90
• 2 market maker offering to buy 10000 shares at 9.80
• 3 market maker offering to buy 15000 shares at 9.70

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