Level II Settings

Click the link at the top of the window to open the Configuration panel.

NOTE: Level II data is available to you for a fee if you wish to subscribe to the service. However, the fee may be waived if you meet certain eligibility requirements. For additional information, please contact your Schwab Active Trader Team.

ARCA Book data does not require Level II permission and is available for all equity quotes.

General
Highlight ECNs	When checked, allows you to differentiate between the Market Makers and ECNs you are watching, based upon their color in the Level II/Time & Sales panel.
Use color in the Time and Sales info	Color-codes the Time & Sales for all trades: Green - Trades at the inside ask. Red - Trades at the inside bid. White/Gray - Trades in between the inside bid/ask. Yellow - Trades above the inside ask. Purple - Trades below the inside bid. Gray highlight - Indicates a quote change.
Display quote changes in Time and Sales	Displays quote changes in Time & Sales with a gray highlight to differentiate them from actual transactions.
Show quote volume in 100s (lots)	If unchecked, the full volume for a quote will display. If it is checked, the quote will display without the last two zeros to save screen space.
Show change as change from...	Select whether to show Change as the change from open or previous close.

Table
Display scroll bars on the Bid table	Displaying the scroll bars allows you to scroll the Bid display up and down to view the full depth of the market in a security.
Display scroll bars on the Ask table	Displaying the scroll bars allows you to scroll the Ask display up and down to view the full depth of the market in a security.
Display scroll bars on the Time and Sales data	Displaying the scroll bars allows you to scroll the Time and Sales display up and down to view older prints that have come through the window.
Color Scheme	Select one of several Level II color schemes from the drop-down menu.

Data Sources

Level 2 Quotes

Shows the depth of bids and asks in a stock: the left column shows the Bids, the middle column displays the Asks.

Level II also displays:

Market Maker, ECN ID or Exchange.
Their best Bid or Ask price
NOTE: While this is their best price, it may not reflect their entire book.
The Market Maker will always be displayed in capital letters, while the ECNs will only display in capital letters if only their best Bid / Ask quote is displayed.
Number of shares they are making available at that price (divided by 100, so a display of 8 actually means 800 shares are available).

NOTE: Access to Level II data requires meeting certain eligibility requirements based on trading frequency. Please contact your Schwab Active Trader Team to determine if you qualify for Level II access.

Direct ARCA quotes

Displays direct quotes from ARCA. You do not have to be permissioned for Level II data to get ECN quotes.

Restore defaults

Restores default Level II and Data settings.