The Nasdaq Trader's Toolkit

By: M. Rogan Labier

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Product code: 13731
ISBN: 0471404039
256 pages
Format: Hb
Published by: John Wiley & Sons, 2000, 1st edition

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The Nasdaq Trader's Toolkit - front page cover image

Description of The Nasdaq Trader's Toolkit

Nothing has changed the markets more in the late 1990s than the advent of direct access, made up of two tools that traders can use to 'hit' bids: NASDAQ Level II quotes and direct order routing. They provide the fastest route and show the depth of the market by showing at what price market makers have put in firm bids and offers for a security. Just having access to these tools is not enough, the key is in how to use them. In'The NASDAQ Trader's Toolkit', a former market maker reveals secrets of interpreting Level II and how to route your order to get the quickest fill at the best execution. It offers practical insights on the mechanics of the market that can benefit any system and shows how to eliminate unnecessary spillage due to routing mistakes and miscalculations.

Save money off every trade-winner or loser-by learning Superior Execution. Learn how SuperSOES, SelectNet, and the ECNs really work, including active and passive ECNs as well as controversial 'Hidden' and subscriber orders. Eliminate slippage due to routing mistakes

Get the inside scoop on reading Level II quotes from a real Nasdaq market maker

Learn how the Ax (i.e., the institutional buyer or seller with a large order to transact) really thinks

The Nasdaq Trader's Toolkit - Chapter headings

Introduction

The Toolbox

Level II: Definitions

Level II: Interpretation

Level III

Tools of Execution

Order Routing Grid

Complete Guide to Selling Short

Risk Management

Games People Play

Margin

Philosophical Perspective

Index