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The following example illustrates inverted book processing for Market by Price (MBP)This example shows a new limit bid order accepted and added to the first level of the book. The following examples assume there are no other updates within a conflation interval and the book price processing is non-inverted. For more information on conflation processing see Conflated Market Data Processing.  

Starting Market by Price (MBP) Book

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The following example illustrates inverted book processing for Market By Order - Limited Depth (MBOLD)This example shows a new limit bid order accepted and added to the book. The following examples assume there are no other updates within a conflation interval and the book price processing is non-inverted. For more information on conflation processing see Conflated Market Data Processing.  

Starting Market By Order - Limited Depth (MBOLD) Book

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The following example illustrates inverted book processing for Market by Order - Full Depth (MBOFD)This example shows a new limit ask order with a negative price that is accepted and added to the book.

Info
This example uses tag 37708-OrderUpdateAction, but depending on the SBE template, tag 279-MDUpdateAction may be used instead. See Incremental Refresh SBE Template Book Processing for more information.

Starting Market by Order - Full Depth (MBOFD) Book

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