Level 2 on Simulator

[Omar Shazly 0]

Hello, I've been recording my screen the last few days and I'm feeling like my level 2 on the simulator isn't giving me all the data? So I guess this can be broken down into a few questions:

1. Does the simulator provide enough L2 data/order flow to actually learn the tape?

2. What is the difference between the Montage vs INET vs ARCA tabs on the Level 2?

3. In the simulator, we don't have the ARCA tabs. Does this mean we don't have all the orders showing up?

If my theory is correct, and the BBT simulator doesn't provide the right data, then I think i'll probably pay the extra amount to DAS and get their simulator with full Level 2 data. However, I don't want to do that if my theory is incorrect.

Thanks for your input.

[Angela Kuzeva 23]

Hello, 

The data in SIM L2 is more than enough to learn L2. I can't say that data is incorrect.  Even you may don't see 100% of the data this is not a setback because you have enough data to learn and develop an understanding of L2 and T&S. 

You don't trade every order on L2 and you couple L2 with T&S. L2 are orders which are not filled. Means you may see 200 lots at a price but they are not filled yet and may not be filled or may be taken off. T&S shows you the real order flow and what are the real transactions which are executed at the current price. 

You need to see if the 200 lots you see on L2 at the price go through T&S or you see much more than 200 lots, how fast they are decremented, what is the speed of T&S, where is printing on the bid or on the ask. These are the subtle moments you are looking and you look for them at levels only not every bid/ask. 

 You also can send e-mail to DAS and they will give you detailed information what data they include in SIM but I can ensure you, it is totally enough and you don't miss anything.