The announcement follows Nasdaq’s $190m purchase of Brut, the owner and operator of electronic liquidity provider Brut ECN, from SunGard Data Systems last September.
It is thought the integration will provide investors with all displayed orders at every price level for each Nasdaq-listed security in the Brut facility, in addition to all quotes and orders in the Nasdaq Market Center. The aim is to give users access to greater depth-of-book information in order to improve their ability to employ unique trading strategies.
Nasdaq claim this integration has caused an increase in the liquidity available through TotalView, stating that across the Nasdaq-100 Index securities, the product displayed about 84% more liquidity within .05 of the inside market as compared to the stock market’s Level II service.
