Estimated position in queue - Jigsaw vs Trading Technologies

C

CALLumbus

Hi all,

I really like the EPIQ feature of X_trader and the new TT. Jigsaw also has a very similar feature, showing your estimated position in queue. I havent used Jigsaw so far, how does its EPIQ feature compare to the one of TT ?
Are there any other platforms around that offer this tool ?

Greetings,
CALLumbus
 
CALLumbus said:
Hi all,

I really like the EPIQ feature of X_trader and the new TT. Jigsaw also has a very similar feature, showing your estimated position in queue. I havent used Jigsaw so far, how does its EPIQ feature compare to the one of TT ?
Are there any other platforms around that offer this tool ?

Greetings,
CALLumbus
More...
Epiq is good enough on jigsaw to give you a good idea. My guess is a similar algorithm as TT.
 
I'm not quite sure about TT. CME has Market By Order data out since march, which gives you exact queue position. So perhaps TT has it implemented.

For Jogsaw, I'm pretty positive they just use an algorithm.
 
MrMuppet said:
For Jogsaw, I'm pretty positive they just use an algorithm.
More...
Why does it need a fancy algorithm? Isn't it just simple math?

For example. You place a limit order at 2450.00 and there are currently 700 waiting as we are a few ticks away at lets say 2451.00. This means that you would be order 701. If we tick down 1 tick, and you see the number drop to 650, this mean 50 left the que, and you are now 651. Perhaps as we tick down again, more buyers step in, and of course all of these get added behind you. Then we trade into 2450.00. The tape will show how many traded, lets say 300, now you're at 351.

Of course this happens very quickly, and I'm not sure how quickly the depth levels get updated, and its possible that in the same instant that some orders are pulled, others could be added so even though the total BID size doesn't change, you could have moved up in the que since those that left makes you that much closer, and the exact number that added are behind you, but it should work fairly well.
 
Thanks for the Input MrMuppet and Gotcha.

A DOM with Market by Order would be obercool ! I read that Sierra Chart is working already on implementing it in their platform. Do you know of any other platforms that maybe support this already ? Trading Technologies is usually leading with DOM technology, what about them ?
 
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