queue position of your order
July 28, 2017
Category: Market Activity
How many times has the market traded at the price of your order and you're left wondering how you didn't get filled? With V3 not only do you have the tools to understand exactly what happened at that moment, but you have the ability to know what the order of the queue at the price level going forward.
The image above shows the queue order at the three separate times. The first shows the queue (1) of orders right after your order is entered, as expected, your order is at the bottom as it is the newest. The second time shows the queue (2) after a few orders have been deleted and there have been a few trades at that price. You can see that your order is no longer at the bottom but there are still a few orders ahead of you. In the final image (3), you see that your order is finally at the top of the queue and will be part of the match at the next trade event. V3 is able to take advantage of CME's MBO data to give you insights into the market you've never had before. With V3, you never have to settle for being in the dark on why an order of yours wasn't filled. Full transparency, full market context.