Trading in today’s markets is increasingly complex. Ever more information is available at ever increasing speeds from multiple venues and market data providers. Coping with this fragmentation of liquidity and being able to act on the information is key to driving alpha, and to achieving best execution for clients.
OmniBook provides a view of liquidity across all markets available. It aggregates price data from multiple venues or exchanges in a variety of ways. These include: an aggregated Level 1 or consolidated tape; Best Bid and Offer prices across a whole region, with corresponding trade ticker; and a full-depth, aggregated order book.
Typical Applications
- Smart Order Routing
- Spread Betting
- Position Keeping
- Risk Management
- High Frequency Trading
Product Description
Skyler OmniBook takes market data from a range of venues, in a range of formats, and aggregates into one order book. It thus provides the most actionable and up-to-date data for trading.
Skyler OmniBook is not just a full-featured, real time Aggregated Order Book. It also contains a wide range of features optimised for trading needs:
- Omnibook trade aggregation provides a real time ticker of all trades for an instrument across all available venues. The venue is identified on each tick, along with calculated cumulative volumes, net changes, highs and lows.
- Omnibook provides Best Bid and Offer prices and sizes, continuously updated from the aggregated Level 2 order book, for the fastest view of the best available prices across all venues.
- Omnibook provides a full-depth, aggregated view of all markets for an instrument. Uniquely, it allows multiple views of different aggregations for the same instrument. This flexibility permits subscriptions to aggregated order books ordered by price and venue, or just by price across selected venues.
- Trading states for individual venues are managed to ensure correct behaviours on the aggregated order book. Conditions can be configured for special behaviours, for instance when major stocks enter auctions on the London Stock Exchange
OmniBook will operate across any type and format of input data from any venue. Whether from a consolidated feed using fixed fields representing price levels, or from a direct exchange feed providing individual order updates, OmniBook correctly manages all the different update mechanisms. This ensures that you get the best possible view of liquidity across all your data sources.
Smart software for smart trading