Upstox Launches 'Tick-By-Tick Engine' For Precision In Retail Trading
The new tool is equipped with features that provide order flow insights and extended market depth view of up to 30 levels, Upstox said.
Representative image. (Photo source: Pexels)
Brokerage platform Upstox, with the aim to increase precision in retail trading, has launched its new "TBT engine", which is a suite of features powered by tick-by-tick data.
One of the key features of the TBT engine is "order flow insights", which uses real-time tick-by-tick data to show traders exactly where their limit order stands in the market, a release said.
"This function displays the percentage of trades executed at or below your limit buy order, or at or above your limit sell order, giving you more strategic insight to adjust your positions in real-time," it said.
The feature will also show traders the total disclosed quantity of shares standing ahead of their order in the market, Upstox said.
Traders using their TBT engine can also set "LIVE Depth Rank alerts", which will notify them every 15 minutes if their order's position worsens, the company said.
The engine also offers an "extended market depth view of up to 30 levels", as a comprehensive view of the market is crucial, particularly when trading in the futures and options segment, Upstox said.
The new tool can also address the failure of good-till-triggered or GTT orders, the brokerage said. The failure "often happens because most retail brokers rely on Snapshot Data, which is captured at intervals, potentially missing rapid price changes. TBT, unlike Snapshot Data, continuously streams all trade packets, guaranteeing the absence of any price movement," it added.
Another feature that comes along with its new tool is "trade price checker", which allows traders to verify the accuracy of their trades by entering the exchange order number and retrieving detailed information, including the exact execution time and the trade price, the company said.
These new features bring a "level of data precision that was once exclusive to high-frequency and institutional traders", Upstox said.
Upstox, counted among the new-age brokerage firms, had a total active user base of 25.91 lakh users as of May, according to NSE data published in June.
