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Reserve orders are trade magnets

Hidden orders in the market are significantly larger than visible orders and they beget concentrations of trading activity – up to 100x more executions per unit time. Signum’s accurate identification of reserve orders – Liquidity Lamp – and estimation of their size – Searchlight – allow algo traders to make more informed trading decisions.

Today’s top 10 names by concentration ratio

The chart below ranks US equity instruments by concentration ratio – the relative number of executions while Liquidity Lamp is lit versus when it is not. Liquidity Lamp enables you to identify the names with the largest hidden forces and to act accordingly.

Top Ten Reserve Order Executions for

Rank Symbol Signal Volume The total volume of reserve orders executed during the day Lit Volume The day’s total volume of all executions while Liquidity Lamp is lit. Concentration Ratio Concentration ratio quantifies the relative number of executions while Liquidity Lamp is lit versus when it is not.

Locate localized liquidity

Up to 48% of the daily volume of US blue chip stocks is traded with reserve orders. Up to one third of the daily total volume on major US equity exchanges is traded with reserve orders. That’s a lot of hidden liquidity. Liquidity Lamp and Searchlight help you find it and use it.

Today’s top 10 names by reserve order volume

The chart below ranks US equity instruments by the number of reserve order shares executed today. For each name, we show the number of shares executed while Liquidity Lamp signaled the presence of a reserve order. The concentration ratio quantifies the relative number of executions while Liquidity Lamp is lit versus when it is not.

Top Ten Reserve Order Executions for

Rank Symbol Signal Volume The total volume of reserve orders executed during the day Lit Volume The day’s total volume of all executions while Liquidity Lamp is lit. Concentration Ratio Concentration ratio quantifies the relative number of executions while Liquidity Lamp is lit versus when it is not.

Use Cases

  1. Alpha Generation

    The XTP’s low latency, high throughput, and powerful price aggregation provide actionable information in microseconds, delivering more trading opportunities.

  2. Execution Quality

    Custom depth-of-book views and consistent speed under high trading volume give you a clear picture of available liquidity in time to act on it.

  3. Operational Risk Management

    Fewer systems in the data center, continuous monitoring and proactive management, and Reg SCI compliant systems reduce the worry of unexpected downtime.

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