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Level 3

   Also found in: Encyclopedia, Wikipedia 0.21 sec.
Level 3
A trading service consisting of everything in Level 2, plus the ability to enter quotes, execute orders, and send information. This service is restricted to NASD member firms that function as registered market makers.

Notes:
This allows you to enter bid/ask quotes as the trades are being executed right in front of you. It's the fastest way to execute a trade. Also known as Level III.



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Following the taxonomy, the thinking levels were: (a) Level 1 - Knowledge, (b) Level 2 - Comprehension, (c) Level 3 - Application, (d) Level 4 - Analysis, (e) Level 5 - Synthesis, and (f) Level 6 - Evaluation.
In the sex category, for example, users can set their system to Level 0, romance, no sex; Level 1, passionate kissing; Level 2, clothed sexual touching; Level 3, nonexplicit sexual activity; or Level 4, explicit sexual activity, sex crimes.
CHICAGO -- Fitch Ratings has assigned a 'B/RR1' rating to Level 3 Financing, Inc.
 
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