Quotes, Prices, and Market Data

These pages explain the data layer traders use before they send an order.

The subsection groups screens, tickers, quote feeds, and visible market prices rather than order instructions or execution quality.

In this section

• Market Data, Tickers, And Screening Tools
  Market-structure terms for market data feeds, tickers, screening tools, and bond quotation publications.
  • Market Data, Tickers, and Tapes
    Market-data terms for stock tickers, ticker tape, yellow sheets, and broad market-data references.
    • Market Data
      Detailed information about current market conditions, including prices, bid-ask spreads, and volume.
    • Stock Ticker
      An automated system that displays stock market data such as ticker symbols, prices, and transaction volumes.
    • Ticker Tape
      Ticker tape historically refers to the paper strip on which stock price quotes were transmitted by telegraph machines. Nowadays, the term is often used to describe the continuous stream of price quotes seen on financial news channels.
    • Yellow Sheets: Comprehensive Guide to Corporate Bond Bulletins
      An in-depth overview of Yellow Sheets, providing updated information on bid and ask prices for corporate bonds, their working mechanism, and historical context.
  • Screening and Scanner Tools
    Market-data terms for stock scanners, stock screeners, and screening tools.
    • Stock Scanner
      A comprehensive guide to understanding stock scanners, their functionalities, types, uses, and advantages in short-term trading, particularly day trading.
    • Stock Screener
      A detailed examination of stock screeners, how they operate, and how investors and traders can utilize them to select stocks based on specific criteria.
    • Stock Screening Tools
      Stock Screening Tools are digital instruments that help investors identify stocks based on predetermined criteria such as financial metrics and market performance.
• Quotes And Executable Prices
  Market-structure terms for executable quotes, quote depth, delayed and real-time prices, and dealer price indications.
  • Executable Quotes and Price Levels
    Market-data terms for axes, firm quotes, level-two screens, mid-market prices, and workout markets.
    • Axe in Securities Trading: Definition, Meaning, and Insights
      A comprehensive guide to understanding the concept of 'Axe' in securities trading, including its definition, types, applications, and related terms.
    • Firm Quote: Securities Industry Term for a Definite Bid or Offer Price
      A Firm Quote in the securities industry is a round-lot bid or offer price of a security stated by a market maker, which is not identified as a nominal or subject quote that requires further negotiation or review.
    • Level 2
      Explore the detailed definition, functionality, and practical examples of Level 2 Trading services in the NASDAQ. Learn how real-time market maker quotations impact trading strategies.
    • Mid-Market Price: The Equilibrium Point in Security Trading
      An in-depth exploration of the mid-market price, including its definition, significance in trading, calculation, historical context, and impact on financial markets.
    • Workout Market: Predicting Security Trading Price Ranges
      Understanding the concept of Workout Market and how market makers predict the trading price range of a security within a reasonable timeframe.
  • Real-Time and Delayed Quotes
    Market-data terms for delayed quotes, real-time quote feeds, and stock quotes.
    • Delayed Quotes: Understanding Time-Lagged Security Prices
      Delayed quotes provide security prices with a time lag, typically 15-20 minutes behind the actual market price. They offer a less costly alternative to real-time quotes but may not be suitable for all trading strategies.
    • Real-Time Quotes
      An in-depth look at real-time quotes, exploring their significance in fast-paced trading environments, advantages and disadvantages, and special considerations for traders.
    • Stock Quotes
      Comprehensive guide on stock quotes, their meaning, how to read them, along with examples and other essential information for investors.
• Session Prices And Price States
  Market-structure terms for opening prices, last-sale prints, highs, and unchanged price states.
  • High: Maximum Price During a Specific Period
    An in-depth analysis of 'High,' which refers to the maximum price at which an asset is traded during a specific period, including its historical context, types, key events, and its importance in financial markets.
  • Last Sale: Most Recent Trade in a Particular Security
    The 'Last Sale' refers to the most recent trade of a particular security, distinct from the closing sale at the end of a trading session.
  • Opening Price
    A comprehensive guide to understanding the opening price of securities, including its definition, examples, and effective trading strategies.
  • Unchanged: Understanding Stable Prices and Rates in Securities
    A detailed explanation of the term 'unchanged,' commonly used in financial markets to describe a situation where the price or rate of a security remains the same over a given period.