Example Investigations - Identifying Inefficiencies in Pricing
Viewing and filtering histograms by trades offside at inception, 100ms or 500ms can help to identify inefficiencies in pricing.
Instruments which are consistently receiving trades with negative inception yields or are quick to fall offside e.g. 100-500ms can be indicative of slow pricing. Latency arb traders are able to identify and trade on rates that are slow and therefore capturing negative spread.
Applying a filter at a short time period and grouping the selection by instrument will aggregate all negatively yielding trades for each instrument.
This allows you to identify which instruments have the largest count, volume or PNL impact from offside trades: