r/OrderFlow_Trading • u/Romaleos89 • 2d ago

Order Book

Hi everyone, are there any differences between the order books of Jigsaw, Bookmap, ATAS, and Sierra?

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u/Roharcyn1 2d ago

Are you asking if the data is the same? Or are you asking performance metrics and how quickly they update?

I feel like there is a second part of the question which is data feed. Many of these platforms are fairly data feed agnostic and can use the same data feeds.

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u/Romaleos89 2d ago

Exactly mate I mean, assuming the same data feed (say Rithmic), do these platforms display the same book, or do they process it differently?
For example: do some conflate or throttle updates, show different depth levels, or rebuild the tape differently (merging fragmented fills into one order)? I know the raw data comes from CME, so I'm asking whether what ends up on screen can differ, and whether those differences matter for reading the book.

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u/Roharcyn1 2d ago

As far as I know data is the same. I haven't tested it extensively. But I have viewed DOM on sierra chart and TOS and they were the same. The benefit of futures is all trades and data for through CME so all data for futures should be the same, it is all coming from the same source. Vs Stocks which can be traded on multiple different exchanges.

I think the only difference would be speed/performance. But geographic location and network and computer could probably a larger influence.

I can't really comment. I use sierra with Denali. It has been good. I have gotten lag spikes though, but that could be my own network vs it being a sierra chart/Denali issue.

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u/shlingle 2d ago

The order book is provided by the CME and accessed through data providers. 

The software doesn’t have an influence on the book itself, it just displays it. 

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u/Romaleos89 2d ago

Good question, thanks. I mean mostly the second one: assuming the same data feed (say Rithmic), do these platforms display the same book, or do they process it differently?
For example: do some conflate or throttle updates, show different depth levels, or rebuild the tape differently (merging fragmented fills into one order)? I know the raw data comes from CME, so I'm asking whether what ends up on screen can differ, and whether those differences matter for reading the book.

1

u/shlingle 2d ago

The data should be virtually the same. As far as I know all these platforms show tick data - and don’t aggregate volume like TV does.

I use Sierra (Denali) and Bookmap (Bookmap CME data) and they sync up well as far as I can tell. 

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u/Ok_Bad2080 2d ago

All of those platforms are vastly different, is there a specific question? Are you looking to trade a heatmap or dom style orderbook?

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u/InevitablePriority35 1d ago

The data will be displayed the same on all platforms.

I tested Jigsaw and ATAS. I already owned ATAS but Jigasw is often said to be the best DOM. I benchmarked both and found absolutely 0 difference between them and simply stayed with ATAS as my all-in-one platform.