author : Clem Chambers

level 2 Articles

by Clem Chembers



Level 2 Quotes

ADVFN Level 2 quotes provide a simple and straight forward view of the London Stock Exchange order book. ADVFN has always led the way with its UK Level 2 service. Back in 2001 the website was first to offer the private investor Level 2 at a truly affordable price. Its latest UK Level 2 offering "UK level2 lite", which bundles UK Level 1 and UK Level 2 real-time quotes together, comes in at just 29.99 a month.

ADVFN Level 2 differentiators

ADVFN's Level 2 connects directly to the London Stock Exchange - that is there is no intermediary. This is not always the case with other Level 2 products.

ADVFN Level 2 not only provides the traditional Level 2 view which lists and summarises the buys and sells in the order book, it also provides a unique package of summary features and graphical displays to help the viewer analyse what is going on.

The Stats panel provides a fast and concise view of the buy and sell activity on the screen.

There is also a Histogram panel which gives a graphical representation of the volume activity on both sides of the order book.

ADVFN has included a real-time interactive streaming chart and Tickscope (a tool which shows the tick-by-tick trading activity of the stock).

Other invaluable assets on the ADVFN Level 2 screen include: A full Level 1 quote box which has 14 Level 1 fields including: High, Low, Open, Last change etc.

There is also a major indices tab giving users instant access to FTSE100, FTSE250, Allshare, Techmark, Dow NASDAQ and S&P 500 data.

ADVFN Level 2 has an auction tool. This shows Reference price, Daily VWAP, Uncrossing Price and Volume, Auction Start and Duration fields.

Another big ADVFN USP is its Level 2 Flow tool. The flow tool remembers and displays the number of orders that are inserted and deleted, the number of price increases and decreases; and volume increases and decreases that occur in the order book over a selection of time periods from the one minute to the last 60 minutes.

There is also a trades screen showing completed trades as they are being reported from the exchange.

At the click of a tab you can instantly go to a Summary view of the order book which condenses each price level in the order book into a single line. By using the drop down boxes by the buy and sell columns you can also concentrate your order book on the orders at the top of the book nearest the touch.

ADVFN also has a tool available in its Desktop service called Level 2 scope which graphically monitors the order book price level activity over time.