Level 2 Service


Also found in: Wikipedia.

Level 2

An electronic service showing real-time quotes for each market maker on NASDAQ and the OTCBB. Level 2 allows the investors to find the market maker with the lowest bid-ask spread as trades are being executed.

Level 2 Service

A service providing real-time access to market maker quotations for every Nasdaq-listed security and for OTC Bulletin Board securities. Level 2 Service is intended for firms trading significant amounts of Nasdaq and OTC Bulletin Board securities for themselves or for their customers.