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Market Depth Trader
The aggregated Market Depth window displays the alternative bids and offers away from the inside quote to allow you to better gauge market liquidity. Create an order by clicking a price level in the Bid or Ask column. Transmit orders from the Orders panel.
Add or remove Level II data using the Deep Book Buttons. The Others buttons displays Level I data from exchanges that don’t offer deep data, for which you don’t have market data permissions, or for those to which you subscribe but haven’t selected.
Modify and create custom buttons in the Buttons panel in Global Configuration.
To create an order
1. Create an order by clicking the Price in the Bid column (for a sell) or the Ask Column (for a buy).
2. Use the Orders tab to modify and transmit the order.
- The number of deep book data windows that you can display at one time (including BookTrader, ISW and Market Depth) is equal to 1 for every 100 allowed lines of market data, with a minimum of three and a maximum of 60. Market data allowance is based on commissions, available equity and other criteria. So a client with the minimum allowance of 100 lines of market data will be able to open 3 deep book windows. A client with an allowance of 500 lines of market data will be able to open 5 unique deep book windows . For details on how market data allowances are calculated, see the Market Data and News overview page on the IB website.
- When subscription deep book data is at its window limit, additional windows will display aggregated top level data, and the Deep Button panel will be hidden.
- We cannot guarantee that every price quoted for a particular security/commodity will be displayed in the Market Depth window.
- Cumulative size represents the total contract size available at a particular price or better.
- Average Price is the average execution price received when transacting the cumulative contract size. You receive multiple executions as your order goes through the order book. Executions will appear in the Trades panel.
Use the Market Depth Trader for bond trading to view the minimum trade size for net bond prices and calculate net bond prices based on your desired size.