Top-of-Book Analysis - Overview
top-of-book contents
- Navigating and filtering
- Top-of-Book uses
- Simulations
Top of Book Screen
The top of book screen displays the forensic detail of market data for evaluating your own and LPs pricing.
Market data from each of your LPs is overlayed in a single view allowing you to compare the predictivity, speed and skew of each of your LPs price feeds.
Every trade that comes through the system is also plotted on the top-of-book screen, allowing you to assess what happened in the market around a trade.
This makes the top-of-book screen extremely useful for:
Navigating top-of-book
Top-of-book can be accessed via the tab from the Echo dashboard, Market Data drop down or from a specific trade or price spike.
The displayed time period is adjustable, trades that were processed around the selected time are represented by triangles and bids/offers are from the HOUSE perspective.
It looks at trades in ms detail and is most useful to analyse a period of up to 2 minutes. Cancels are marked as a cross.
Fills/cancels from the same order will be linked together by a line when a related fill is hovered over. This is especially useful when investigating EAs, sweeping and liquidity reduction.
Clicking and dragging over a period will zoom in so we can analyse in detail different LP price streams, double clicking anywhere on the screen will remove the zoom:
Learn more about filtering markets, counterparties and trades from the top-of-book view