Series 7: 17.2.1.4. Nasdaq Levels Of Service

Taken from our Series 7 Online Guide

17.2.1.4. Nasdaq Levels of Service

Nasdaq offers a variety of options to the user for viewing quotes and orders on its Market Center.

Level I is typically used by brokers and individual investors to access the inside market (best bid and best ask) on listed and OTC stocks. Level I also shows the price of the last transaction. A basic level of service, Level I does not identify particular market makers or the volume of shares being offered. If a customer comes to a representative

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