Cboe Global Markets revealed Monday that it has introduced a new Timestamping Service that provides market participants with extra order and cancel-related timestamp information.
Cboe Launches New Timestamping Service
The company explained that the service enhances market transparency and efficiency, offering traders insights into order execution and cancellation processes.
They added that the new service is available on all Cboe-affiliated U.S. Equities Exchanges, providing market participants with detailed information about order and cancel messages.
By analysing timestamp data, traders and participants are able to gain more in-depth information on their order execution performance, identify potential latency issues, and improve their trading strategies.
The Cboe Timestamping Service offers two primary reports, the Missed Liquidity Report and the Cancels Report.
The Missed Liquidity Report is said to offer insights into orders and modifications that were not executed due to timing or latency issues.
Furthermore, it is said to present detailed information on aggressor network discovery timestamps, allowing participants to compare their own order timestamps and identify potential areas for improvement.
Meanwhile, the Cancels Report provides details on canceled orders, including those that were rejected due to late cancellation attempts.
It offers insights into the timing of cancellations and their impact on trade executions. Cboe says it helps participants optimise their order cancellation strategies to minimise unnecessary costs.
