In the video orders come in from outside the circle represented by triangles.
The color of the triangle matches the reporting exchange it came from. Each box
on the outer edge is a different reporting exchange. The bigger triangle
represent quotes at the National Best Bid Offer, NBBO. An order comes into an
exchange, is processed internally and then sent out to all other exchanges and
CQS.
This report and all material shown on this
website is published by Nanex, LLC and may not be reproduced, disseminated, or
distributed, in part or in whole, by any means, outside of the recipient's
organization without express written authorization from Nanex. It is a
violation of federal copyright law to reproduce all or part of this publication
or its contents by any means. This material does not constitute a solicitation
for the purchase or sale of any securities or investments. The opinions
expressed herein are based on publicly available information and are considered
reliable. However, Nanex makes NO WARRANTIES OR REPRESENTATIONS OF ANY SORT
with respect to this report. Any person using this material does so solely at
their own risk and Nanex and/or its employees shall be under no liability
whatsoever in any respect thereof.