CQG’s Order Ticker in 7.5
The CQG Order Ticker gives you a live view of the changes occurring in the exchange order book including trades executed, orders placed, orders canceled, and orders modified. The Order Ticker uses a scrolling window similar to the old ticker tapes for the stock market. This link leads to examples with labels of the denotations in the Order Ticker.
Some new features have been added. Now, you can set a limit for order activity and a separate limit for trade activity. For example, only order activity 25 lots and greater can be one limit. And, trades 5 lots and greater will be displayed. Another new feature is an arrow will appear each time the inside market moves up or down.
These filters will slow down the pace of the Order Ticker display. That being the case, one idea is to stack two Order Tickers to break down the activity between large and medium size traders.
The first example displays two Order Tickers for the E-mini S&P 500 futures contract. Click on the image for a full size view. The bottom Order Ticker is set to 100 contracts and up for order activity and 25 contracts and up for any trades. The top Order Ticker uses 25 contracts and up of order activity and five contracts for trades. Now, you can simultaneously track what large traders are doing compared to medium size traders.
Here, we see medium size traders are lifting offers, while large traders are hitting a few bids and lifting some offers, but the large traders are placing large bids under the market.
In this example, large traders are hitting a few bids, placing new offers, and canceling resting bids. Medium size traders are lifting offers, lowering offers, placing new offers, and canceling bids.
Our final example shows large traders hitting a few bids, but both large and medium size traders are placing new bids in the market and canceling resting offers.
This set of examples used order and trade limits for the E-mini S&P 500. Try various settings for other electronically traded markets as every market has its own characteristics.