The following article on Level II Market Data is the opinion of Optimus Futures.

Are you trying to switch to DOM trading? Do you wish to use the data on the DOM to complement your futures trading on the charts?  This article will explain the hidden details behind the flashing numbers that you see on your DOM. Read on to get a better understanding of the Level II data and learn a simple strategy on how to read level II data in order to identify market direction.

What is Level II Market Data?

First, let’s go over what we call Level I.  At its core, Level I displays the best bid-offer-volume quotes in real-time. Some call it Top of Book. 

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