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This is correct, I ran Signal-On-Line side by side with DTN, this is what I
found watching OEX options like a hawk.
Signal had twice as many ticks as DTN and when comparing with the CBOE, over the
phone SOL had twice as many ticks at the last price than traded at the CBOE.
Signal sends each bid ask change as a tick, with the same last.
Signal also had trades that DTN did not show. This is what I tracked down on
that situation.
I would show a trade on SOL at 8 1/2 and DTN was at 10, upon calling the CBOE
and getting the trade report I found that the 8 1/2 trade occurred at 8:35 CST
and the report time was 9:45 CST. Signal sends these late reports as a current
trade, DTN filters the late reports out so they are not sent. Thus you would
miss the 8 1/2 tick, but it would not cause you to hit a stop at 9:45 that
should not be hit. The floor traders see these late reports and there is a note
attached we don't see the note on SOL, or DTN therefore I don't want to see the
late reported tick at all.
They also account for some of what we call bad ticks.
These situations make tick counts useless for comparing data feeds IMHO.
I found the situation with SOL unacceptable for my trading and stuck with DTN,
2000i will show all those bid ask changes as a new last tick, as that is how
they are sent. I spent 2 months comparing feeds, and ran as many as 3 at once on
separate computers.
What I want from a data feed is the prices I can currently fill at, so I need
the most recent bid, ask, and last. Late reports etc. are of no use to me.
I spent the money and ran PC Quotes, Signal-On-Line, DTN RT, DTN IQ, and BMI.
____________________Reply Separator____________________
Subject: Tick count ----> TS2000i
Author: tagteam@xxxxxxx
Date: 4/7/99 3:08 PM
It appears that, with respect to comparing the number of ticks,
TS2000i users need to take B/As into account. TS2000i stores B/As
separately. If you pull up the 1-tick trade record for DSP, for
example, you'll get just that......trades. You have to add in the bid
and ask records as well. When I did so, I was much closer to the
Bloomberg count of 4371 mentioned in Dave's post (I had 4273 ticks for
DSPM9 on 4/6......4099 trade records, 174 total B/A records).
Best regards,
Jim
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