What are your thoughts on Jigsaw and Bookmap Xray

[Macca1]

some data is low priced, some high.

ICE US Futures data cost $116 / mth and that's not cheap.

If you want a dedicated Nasdaq Total view feed your looking at around 1k per month. But that's only going to show you an incomplete picture, you will also need CTS/CQS Consolidated Trade(NYSE) + BATS: BYX, BZX, EDGA, EDGX etc. So you're looking at 2k+ per month.

 

[Macca1]

Well - there is a downside there...

I have a friend that has a desk in an equities prop firm and a lot of the time they have to go "fishing" to see what depth is there in the first place.... So I think there's a lot of depth that cannot be visualized.

Saying that - the value of market depth information has been massively overrated in the past few years. We've seen 'respected' educators telling people "if you see large bids, buy in front of them" - which is a terrible strategy.

Still - it fits the bill of what a lot of retail traders want - a one line, one rule trading strategy.

There is all the FINRA ATS/ Non-ATS" dark pool' volume to consider.

IMO Equities depth is quite a lot more intuitive than futures( eg the book always stacks near daily high/lows/ whole numbers/ VWAP etc)-The jumping in front of large orders could still be a viable strategy in some cases. Depends who's running the book.