Scottrade to offer Nasdaq TotalView service
The Nasdaq Stock Market, Inc. (NASDAQ:NDAQ) and Scottrade, a leading online brokerage, announced today that they have partnered to offer TotalView(R), NASDAQ's premier market data product, to Scottrade customers who use ScottradeELITE(R), Scottrade's advanced platform for active traders. Scottrade is the first major discount brokerage to offer TotalView on its retail active-trader platform.
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The most complete source of NASDAQ(R) order-book data available, TotalView maximizes market transparency and trading efficiency by offering:
The aggregated size of all quotes and orders available for execution for every price level in the NASDAQ Market Center and Brut for each NASDAQ-listed security, which can be up to fifteen times the liquidity displayed through legacy data feeds such as Nasdaq Level II;The fastest source of Nasdaq order book information; andExclusive access to net order imbalance information for NASDAQ Opening and Closing Cross-eligible securities.
"Scottrade's decision to offer TotalView to its customers reflects that the TotalView data feed is becoming a standard feed for serious retail traders," said William O'Brien, Senior Vice President, NASDAQ. "ScottradeELITE gives investors full control of their trading decisions, with the tools to take advantage of market momentum," O'Brien added. "Scottrade has taken a leadership position in offering premium services to the active retail investor."
ScottradeELITE is a fully customizable platform that offers advanced tools to help active traders find opportunities in the market and make quick trading decisions. These traders demand the transparency and depth of the market that TotalView offers, as well as the other advanced tools and technical indicators available through ScottradeELITE. TotalView can be used in conjunction with the other trading tools, including scanners, filters, news and research, already available through the platform. TotalView will be available to ScottradeELITE users for $15 a month. That fee will be waived if they execute 15 or more trades each month.
"Scottrade wanted to provide its customers with access to the best data available to help them make better trading decisions," said Scottrade President Rodger Riney. "NASDAQ TotalView is a great addition to ScottradeELITE in that it increases the power of the functionality the platform already offers."