Level I
What is level I ?
Level one contains the current bid and ask price and their respective volumes.
Default, for the bid, this is the left side. This is the highest price somebody is willing to offer, at this time.
The same applies to the ask, which is the right side. The current ask is the lowest price somebody is willing to pay now for a certain stock.
Besides the current bid price and ask price, we also see the market price. The market is considered as being level 1 data.
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Video: What is Level 1? at 01:26
What is included in level I ?
The following common trading information is included in Level I market data:
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Bid price, which is the highest price a trader is willing to pay for an item.
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Bid size: how many shares, quantities of currency, or contracts are being offered at the bid price.
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Ask price: the cheapest price a trader will accept for a certain asset.
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Ask size: how many shares, quantities of currency, or contracts are being offered at the asking price.
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Last price: the cost at which a recent transaction was done.
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Last size: The volume of the most recent trade in terms of shares, FX lots, or contracts.
All of the trading information necessary to show a graphical chart of a market, along with the time and sales, is available in level I market data.