Quantia’s TrueTick service adds trading peripheral vision
Level 1 quote data comprises price and spread information, possibly augmented with some volume information at the best bid and best offer. However, level 1 data provides no information on the price of liquidity, and is an essentially one dimensional view of market state.
Harnessing effectively summarized level 2 or order book data opens a new dimension in market state awareness. Adding this peripheral trading vision allows traders to answer critical questions:
Manage trade lists
Which trade list symbols require special treatment given liquidity conditions?
Pre-trade analysis
Is the available liquidity sufficient to effectively execute the planned trade list?
Trade execution
Has market state suddenly become unfavorable to the selected trading approach?
Post-trade analysis
Did the prices at the volumes executed match the state of the market over time?