Moomoo AU - Nasdaq TotalView - What is it?

What is the Nasdaq?

The Nasdaq Stock Market, widely recognized as Nasdaq, stands as a premier electronic stock exchange on the global stage. It is particularly noted for its focus on the technology sector, attracting a multitude of companies specializing in technology and the Internet.

Established in 1971, Nasdaq holds the distinction of being the first electronic stock market in the world, a move that revolutionized trading by dispensing with the traditional physical trading floor. Ranking as the second-largest exchange in terms of market capitalization, Nasdaq is integral to the global financial ecosystem. It serves as a vital conduit for capital formation, enabling companies to access funding, while also providing a diverse array of investors with opportunities to invest.

What is Nasdaq TotalView market data?

Nasdaq TotalView stands as the elite data service for dedicated traders, offering a comprehensive view of every quote and every order at all prices for securities listed on the NASDAQ, NYSE, and other regional exchanges via NASDAQ. TotalView grants traders complete visibility into the full depth of the market on NASDAQ, revealing quotes and orders that extend beyond what is shown in Level 2 data. With TotalView, traders can see over twenty times the liquidity compared to Level 2, and triple the liquidity within a five-cent range from the market’s best bid and ask prices.

A comparison between Nasdaq TotalView data vs standard real-time quotes

How to use Nasdaq TotalView in Australia?

Nasdaq TotalView offers an unrivalled depth of real-time data on pending buy and sell orders for securities listed on the Nasdaq exchange. Its comprehensive coverage extends to a variety of security types, including:

1. All Nasdaq-Listed/traded Stocks: TotalView delivers a detailed order book of information for every stock traded on the Nasdaq exchange. This encompasses a wide array of sectors, ranging from technology and biotechnology to financials, thereby serving investors interested in diverse industries.

2. Exchange-Traded Funds (ETFs): TotalView's scope includes ETFs that are traded on Nasdaq, providing insights into the depth of market demand and supply for these investment vehicles.

3. Additional Securities: Beyond stocks and ETFs, TotalView also encompasses order book data for other security types available on Nasdaq, including but not limited to closed-end funds, offering a more complete picture of market activity.

Please refer to all products Nasdaq covers: https://www.nasdaq.com/solutions/nasdaq-totalview

A frequently asked question about TotalView market data is usually: Is Nasdaq TotalView available to foreigners? In short, the answer is yes. TotalView is generally available to international investors, not just to those based in the United States. Investors can access TotalView data through multiple means such as brokerage platforms, market data vendors and direct subscriptions.

Nasdaq TotalView: Pros & Cons

Advantages

1. Unprecedented 60-Level Order Book Visibility: Trade with unparalleled precision through our industry-leading visibility of 60 price levels in the order book.

2. 20 Times the Liquidity of Level 2: Elevate your investment decisions to a new level with a more complete order book powered by Nasdaq TotalView.

3. Fully Visualized Market Depth: Effortlessly reveal the supply and demand dynamics at a glance. Easily identify potential support and resistance levels.

4. One-Click Order Tracking: Designed for intraday traders to place orders easily with a click through the order book, setting target prices and quantities effortlessly.

Disadvantages

1. Cost: TotalView is a premium service and comes with a higher cost than basic Level 1 or Level 2 data. For casual investors, the cost may not justify the benefits.

2. Complexity: The sheer volume of data can be overwhelming for less experienced traders, making it difficult to interpret and use effectively without proper training.

3. Niche Benefit: The advantages of TotalView are most pronounced for high-frequency traders (HFTs). Long-term investors might not find as much value in the second-by-second order book updates.

How can I start using Nasdaq TotalView?

Nasdaq TotalView is a professional tool that particularly benefits active traders who require deep market insights to execute their trading strategies. The first step in getting started with Nasdaq TotalView is to choose a Brokerage or Trading Platform that can offer Nasdaq's TotalView market data. Moomoo is currently offering a free 3-month trial of Nasdaq TotalView, to all their users globally, including Australian investors from the 1st of May to the 31st of July 2024.

Ready to begin your investment journey? Join moomoo today and claim your 3-month free access to TotalView market data from 1st May - 31st July 2024. Click here to sign up.