Infront

Market Data Depth Explained

Market By Level (MBL)

Market By Level data displays orders accumulated on price.

Level 1

Level 1 data includes only the first level in the orderbook with the best Bid and Ask and accumulated volumes displayed as Bid Size and Ask Size. Depeding on the exchange the number of orders might also be available displayed for each side as #Orders in the Infront terminal. Level 1 data is accumulated on Price.

Level 2

Level 2 data displays more levels of orders available in the market accumulated on price. Depending on the exchange the level of depth can be 5, 10 or 20 levels. Example of Level 2 data with 10 levels:

Market By Order (MBO)

Market By Order data displays all orders available sorted on price. Example:

Combined View MBL/MBO

With Infront you can take advantage of the Combined View of Market by Order and Market by Level Orderbook. Each level can be expanded and display all underlying orders. Example:

Consolidated Orderbook

The Consolidated Orderbook in the Infront terminal consolidates all orders (bases on ISIN, Currency and Asset type) into the same view and displayes the Venue (Feed). Example:

For more information about market data depth, contact Infront Customer Support.