Order book
MarketsDefinition
Real-time list of buy and sell orders for a security. The best bid (highest buy) and best offer (lowest sell) define the inside market. Total quantity available at each price level reveals depth.
"Lit" exchanges (NYSE, Nasdaq) display the order book. "Dark" venues (most dark pools) don't. Top-of-book vs. full-depth feeds are differentiated subscription products from exchanges.
"Lit" exchanges (NYSE, Nasdaq) display the order book. "Dark" venues (most dark pools) don't. Top-of-book vs. full-depth feeds are differentiated subscription products from exchanges.