Glossary · M

What is Market by Price (MBP, Level 2)?

Market data that shows the total resting size at each of several prices, without breaking it down into individual orders.

In context

Level 2 (L2), also called market by price (MBP) or depth, shows the total quantity waiting at several prices above and below the market. This is the data behind the DOM ladder of the next section.

From Chapter 10: Liquidity, the Order Book and the Tape

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Education only. Not financial advice. Trading involves substantial risk of loss.