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Day traders mostly don't even have access to real-time L2 market data, so they mostly can't be harmed by spoofing. The harmed parties are algorithmic traders t
by anonymoushn 5y ago
Day traders mostly don't even have access to real-time L2 market data, so they mostly can't be harmed by spoofing.
The harmed parties are algorithmic traders that use L2 market data to adjust their theoretical value.
- arcticbull 5y agoI assume L2 in this context means level 2 and not layer 2?
- gpderetta 5y agoyes, full depth (or at least multiple price levels), as opposed to L1, i.e. just top of book. L3 would be order-by-order.