I think that the reason the industry doesn´t offer that is because patent issues. Trading Technologies has that patent and try to get money from everyone that uses DOM.
1. Let´s be honest, having to configure, memorize and press diferent keys to send and orders it´s much more complicated and open to errors than a single click of the mouse. Much less intutive and you have to memorize how to send every order. Like the post above with 8 hot keys, really? the posibilities to commit an error and the level of attention you need can´t compete with a single click in a determined point.
2. With hot keys you never know where will be your order posted, in a volatile stock "buy at the bid" can vary many cents.
3. Let´s say you want to be in the best bid, and the volatile stock rises 0.07cents, then goes down 0.16 cents and then goes up again 0.13 cents. You can´t be faster with keys. How many combinatios do you need to press?. With hot keys you will go crazy and the most dificult thing: you have to think and pay attention to what you are pressing!, so you need to use energy and efford in something that could be easy as breathing. With mouse you need 3 click and you don´t even need to know the price, you just press where the color of the bid starts, even a monkey could do it.
4. Hot keys are only useful for 1 single order, what about the orders you sent before? Or the orders you have in other stocks at the same time. If you scalp you have many orders on the buy and sell side, with hot keys you only can move one, or you have to press more keys to select other orders. With a mouse you click where you need and modify (draging) or cancel what you need. It´s impossible you could manage 4 orders with hot keys faster than with mouse. Hot keys are useful for simple things only, to send an order and leave it, but if your trading involves few orders it´s not useful.
5. Hot keys was logical when using level2 was logical years ago, but now is obsolete with so much algos, dark pools and hidden orders. 90% of what is happening it´s shaddy now.
6. And the proof that DOM is a more accurate method is that futures are traded that way. If a level2 display where better, futures traders would use them.
Of course everything can be done with hot keys like with a mouse and DOM, as you can reach any point in bicycle or car. But with mouseclicks you don´t even need to think and do few actions. A 10 years child could do it, and that leaves many energy and attention to be payd on other aspects of trading.
But on top of that, making two parties and discussing which one is better (DOM vs hot keys) is futile. The industry should offer both (if they could) and the client should have the oportunity to choose which one suits his needs. Everybody will be happy that way.
