#bstockscis @BinanceCIS
Tokenized shares of “glass” (trading tokens) on multiple venues for the same securities—Nvidia, Microsoft, Meta, and Tesla.
For Nvidia and Tesla, bStocks had the narrowest median spread between the best bid and ask prices among the venues being compared. For Microsoft and Meta, the competitor’s spread was slightly tighter; and more importantly for large orders, the order book depth turned out to be noticeably greater.
This detail says much more than any generic figures about trading volume. A narrow spread of $NVDAB and $TSLAB means the algorithm can operate more tightly here and doesn’t have to worry about slippage on entry. But for less liquid pairs like $METAB , you should allow for a somewhat larger buffer when estimating the width of price levels, because a large order can shift the price significantly if the depth beyond the first quote isn’t that impressive.
Honestly, it’s this unevenness that makes the product interesting for active trading, not boring. Different tickers behave differently, and part of my job is exactly to choose the right parameters for each instrument.
Tokenized shares of “glass” (trading tokens) on multiple venues for the same securities—Nvidia, Microsoft, Meta, and Tesla.
For Nvidia and Tesla, bStocks had the narrowest median spread between the best bid and ask prices among the venues being compared. For Microsoft and Meta, the competitor’s spread was slightly tighter; and more importantly for large orders, the order book depth turned out to be noticeably greater.
This detail says much more than any generic figures about trading volume. A narrow spread of $NVDAB and $TSLAB means the algorithm can operate more tightly here and doesn’t have to worry about slippage on entry. But for less liquid pairs like $METAB , you should allow for a somewhat larger buffer when estimating the width of price levels, because a large order can shift the price significantly if the depth beyond the first quote isn’t that impressive.
Honestly, it’s this unevenness that makes the product interesting for active trading, not boring. Different tickers behave differently, and part of my job is exactly to choose the right parameters for each instrument.