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?
Is the available liquidity sufficient to effectively execute the planned trade list?
Has market state suddenly become unfavorable to the selected trading approach?
Did the prices at the volumes executed match the state of the market over time?