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Market Mechanics

24 bytes removed, 2 January
Timestamps in Bookmap
===Timestamps in Bookmap===
Bookmap allows to zoom-in to nanoseconds, which is the resolution of its timestamps. This obviously isn't necessary for a chart trader. But whether you use millisecond, microseconds, or nanosecond, such timestamp requires 64-bit Integer. Even seconds timestamp will require 64-bit in several years from now. So, there is no any disadvantage of using nanoseconds timestamps in the application. The advantages however is that it is useful for HFT firms who use [[Bookmap API|Bookmap Quant solution]] to visualize data with timestamps recorded at exchange co-located servers where some firms, for instance, Nanotick may use GPS clock with 100 nanoseconds precision.
By default, Bookmap displays timestamps of receiving the data and orders updates on the client side, using its computer clock. This is useful for traders regardless of their latency to the exchange because it shows where they could potentially act and where they actually acted. It takes into account potential packet loss during transmission or short-term disconnections, which also allows trader to be alerted in such cases. Displaying exchange timestamps during such cases or within high or non-uniform latency in general, would mean changing the history from trader perspective. This would not explain to the trader high slippage during correct decisions. Also, displaying the chart with data receiving timestamps guarantees that market data is stored in chronological order when connecting to low quality data vendors who may, for instance, provide trades, BBO, and market depth asynchronously.

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