Is there a way to find a list of the preset sell or buy orders sent by individual or institutional investors? would this information be illegal? If not and you have an idea of where i can find this please help! Thanks!
2007-12-23 10:26:36 · 3 answers · asked by tmac5445 1 in Business & Finance ➔ Investing
This is most likely insider trading unless the pending orders are available to the public, if they are does anyone know how to access them?
2007-12-23 10:31:16 · update #1
Yes, level II quotes are the most common. Typically, these show the breadth and depth of orders that are out there.
You´ll see how many shares are being bid and ask at the various prices. 300 at 200.20, 200 at 200.21, etc.
There´s more detailed info as well, but just like level II, it costs more money as well. With the additional detail, you also see what brokerage houses the orders are coming from.
Keep in mind, these are just limit orders that have been submitted. Many people (like myself) also keep orders internally. Firms like OXPS allow this to give customers more flexibility and to keep prying eyes away. ;-)
Basically, I can have contingent or trigger orders that are held in house until certain conditions are met, then the order is submitted. Since the order is not placed until the condition is satisfied, that's why these "orders" are not tracked or seen by level II quotes. It's because to the market, it doesn't yet exist.
Hope that helps!
2007-12-27 05:09:02 · answer #1 · answered by Yada Yada Yada 7 · 0⤊ 0⤋
I'm pretty sure this information is highly restricted. If there was a sealed bid auction, everyone would expect their bid to be confidential. In the same way, I would not want anyone to know that I was willing to buy a share of XYZ company at N dollars. I don't see why an institution would be any different.
I suppose you could get an idea of where people think a stock is going by looking at option pricing?
2007-12-23 10:42:22 · answer #2 · answered by roderick_young 7 · 0⤊ 2⤋
There definitely is BUT - just as everything else - you MUST pay for it!
Its called Level 2 or Level II [Roman numerals].
I'm not exactly sure how much it is and/or what other parameters/requirements the different brokers have.
I asked about it through my broker. I was informed I needed a balance in excess of the daytrading minimum. I didn't ask any further Qs.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
2007-12-23 10:50:40 · answer #3 · answered by Ron Berue 6 · 0⤊ 0⤋