Cboe Equities’ Timestamping Service is a New Tool for Smarter Trading Decisions
Cboe Equities has launched the Cboe Timestamping Service to provide enhanced timestamp information related to order and cancel activities. This service aims to give market participants deeper insights into their order activities and related timing.
Features of the Cboe Timestamping Service
These are the features of the new service:
Self-Subscription
Members can opt into this service independently. It allows them to receive specific timestamp data for their orders, modifications, and cancellations. This self-subscription model enables flexibility for members to access only the information relevant to their trading activities.
T+1 Basis Reporting
The Cboe Timestamping Service provides data on a T+1 basis. It ensures Members can review timestamp details for select messages the day after trading. This approach helps maintain timely access to order-related data.
Types of Reports Offered
The new service provides these reports:
Missed Liquidity Report
This report includes order and modify records for subscribers. It identifies instances where at least one message sent by the subscriber is detected within a 500-microsecond window after the aggressor’s Network Discovery Time and within a 50-microsecond window before the aggressor’s discovery.
Cancels Report
The Cancels Report is available on a T+1 basis by 7:00 a.m. ET. It provides insights into order cancellations across Cboe’s exchange infrastructure. It allows participants to better understand and evaluate the timing and nature of their cancel activities.
Effects on Traders
This update will have these effects on users:
Order Timing Insight
Traders and investors can now access precise timestamp data. It allows them to analyze the exact timing of their orders, modifications, and cancellations. This detailed insight helps them optimize their trading strategies by identifying potential delays or inefficiencies in order processing.
Latency Awareness
Traders gain a better understanding of latency in their transactions with the timestamp service providing data within specific microsecond windows. This allows them to identify and target areas where latency might affect their execution speed. It ultimately improves response times.
Missed Liquidity Analysis
The Missed Liquidity Report allows traders to see when their orders narrowly missed available liquidity. Traders can adjust their strategies or systems to capture more trading opportunities in the future.
Accurate Cancellation Timing
The Cancels Report provides clear data on the timing of order cancellations. This feature helps investors evaluate their cancel strategies more accurately.
Decision-Making
Traders and investors can review their order activities from the previous day, analyze outcomes, and refine their strategies accordingly. This enables data-driven decision-making for future trades.
About Cboe Equities
Cboe Equities operates four U.S. equities exchanges: BZX, BYX, EDGA, and EDGX. These platforms offer various liquidity pools, giving customers choices for executing trading strategies. Cboe’s mission is to provide quality markets and power customer potential. Cboe is one of the largest U.S. equities market operators.
Summing Up
The Cboe Timestamping Service offers valuable timestamp data. It enables members to gain clearer insights into their order and cancellation patterns. The service contributes to greater transparency and operational efficiency in the equities market.
Register your company now and get featured on our homepage!
