Recently, Futu Securities, an internet brokerage unicorn strategically invested by Tencent, announced that it has once again joined forces with NASDAQ and NYSE to officially launch the country's first US Stock Level 2 (“LV2”) advanced market, becoming the first Internet brokerage firm to provide LV2 advanced US stock quotes to Chinese investors. This cooperation is expected to truly fill the gap in the high-level domestic US stock market and open up the “last mile” of precise US stock investment for many US stock fans. Investors can obtain advanced US stock LV2 quotes in real time through Futu's self-developed software platform Futu Niu, and enjoy a more accurate, faster and more efficient US stock investment experience.

According to reports, the US stock LV2 market launched this time is the most advanced real-time pending order price data (Nasdaq TotalView, NYSE OpenBook, NYSE ArcaBook) among the two major exchanges of the Nasdaq and NYSE. It is also the first high-level US stock market opened by the US Stock Exchange to Chinese brokerage firms. The market supports multiple levels of in-depth trading orders. The amount of data is one thousand times that of LV1 for US stocks. It can provide more and more in-depth quotation information, market buyers and sellers, and greatly help investors obtain US stock information and make investment decisions.

As we all know, there are certain costs and technical thresholds for cross-ocean access to the US stock market. Many domestic market software can only provide LV1 basic US stock quotes. Advanced quotes such as LV2 for US stocks are rarely provided, making it difficult to meet investors' investment needs. As a fintech company leading the Hong Kong and US stock investment field, Futu is benchmarking world-class standards. With its strong technical advantages that have been deeply involved in the industry for many years, it overcame multiple problems, successfully accessed the highest real-time pending order price data from exchanges such as the Nasdaq and NYSE, leading the industry once again ahead of the industry in providing market conditions.

Compared with LV1, the LV2 US stock market has the following four major advantages:

Futu Securities was invited to cooperate with Nasdaq once again, and became the first Internet brokerage firm in the country to launch an advanced LV2 US stock market. It is precisely because both sides attach great importance to user needs and mutual recognition. For a long time, Futu Securities has focused on using technology to innovate the US stock investment experience, sparing no effort to solve the pain points faced by users in various aspects such as account opening, capital entry and exit, market conditions, transactions, information, and settlement, continuously introducing new ideas and empowering investors to invest accurately in US stocks. The proactive sincerity it has shown for cooperation and the strong technical strength condensed behind a full chain of closed-loop independent research and development has also been well recognized by NASDAQ and US stock investors. Previously, Futu Securities was the first online brokerage firm in the world to carry out in-depth market cooperation with Nasdaq to open the LV1 US stock market free of charge to Chinese investors.

Oliver Albers, senior vice president of global information services and head of strategic partnerships at Nasdaq, commented: “The founding philosophy of Nasdaq was to enable every investor in the world to freely invest in various financial markets around the world. We also attach great importance to the cooperation with Futu Securities in the past to jointly provide LV1 US stock quotes free of charge to Chinese investors. Now, Futu Securities has become the first online brokerage firm to provide Nasdaq TotalView, an advanced US stock market, to Chinese investors. It will be better able to provide Chinese investors with all the information they need to invest in US stocks and help raise US stock investment to a new level.”

Li Hua, founder of Futu Securities, said, “Using technology to innovate the securities business and create more convenient investment services has always been Futu's goal. The successful launch of the US Stock LV2 Advanced Market is yet another innovative practice of Futu in exploring precise US stock investment business. It not only shows Futu's high priority on user needs and strict requirements for improving its own services, but also shows Nasdaq's recognition of Futu's business capabilities. Futu will continue to uphold this spirit of craftsmanship, implement the concept of using Internet technology to enhance securities services, carefully provide higher quality and more reliable securities services, and empower more US stock investors to share global asset allocation dividends.”

LV2 in-depth placement of US stocks

LV2 quotes

Also known as Market Depth,

Order book

It refers to the in-depth trading of each exchange

Panoramic view of all order information

On the LV2 table

We use BBO lines to distinguish the present

Orders that fall between the LV1 optimal trading spread

More expensive stocks like AMZN

When we have limited funds

When you want to buy only one or two shares

Refer to Deep Placement for small orders

The price is more indicative ☟☟☟

NASDAQ TotalView

NYSE OpenBook

NYSE ArcaBook

Under normal circumstances, they are displayed separately

NSDQ, NYSE, ARCA

Represents that the order came from a participant in this market

On NASDAQ TotalView

We can also see some market makers popping up ☟☟☟

On the day the US stock IPO was listed

You will not be able to trade for a while after opening

For stocks listed on Nasdaq

TotalView is available via NASDAQ

View Auction Placement

For stocks listed on the NYSE

Can be used through NYSE OpenBook

View Auction Placement