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Order Book Data Meaning

The raw stream of data representing every addition, cancellation, and execution in the order book. This is Level 2 or Level 3 market data.

Quantitative traders pay high fees for access to this granular data. By analyzing order book data, traders can spot "Buy Walls" (massive support) or "Sell Walls" (massive resistance).

They can also detect "Spoofing"-where a trader places a large fake order to manipulate sentiment and then cancels it before it executes.

This data is essential for HFT (High-Frequency Trading) algorithms, which make split-second decisions based on the micro-structure of the book flow.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

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