  The distribution of liquidity within the limit order book is essential for
the impact of market orders on the stock price and the emergence of price
shocks. Limit orders are characterized by stylized facts: The number of
inserted limit orders declines with the price distance from the quotes
following a power law and limit order lifetimes and volumes are power law
distributed. Strong dependencies among these quantities add to the complexity
of limit order books. Here we analyze the limit order book in the dimensions of
price, time, limit order lifetime and volume altogether. This allows us to
identify regularities which are not visible in marginal distributions.
Particularly we find that the limit order book is divided into two regimes.
Around the quotes we find a densely filled regime with mostly short living
limit orders closely adapting to the price. Far away from the quotes we find a
sparse filling with long living limit orders, mostly inserted at particular
times of the day being prone to flash crashes. We determine the characteristics
of those two regimes and point out the main differences. Based on our research
we propose a model for simulating the regime around the quotes.
