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Difference between Last traded timestamp and Exchange timestamp
What is the Difference between Last traded timestamp and Exchange timestamp in the quotes ? Can someone explain with an example pls..
The last traded timestamp is the timestamp at which last trade has happened.
The exchange timestamp is the timestamp of the tick. Exchange publishes a tick when market depth data changes also.
, would like to get more understanding. Following are the scenarios and would like to know which timestamp will change for these scenarios.
Q: When bid / ask changes and price is not change ( no trade )
Q: When bid / ask changes and trade occurs
A tick timestamp would be updated for both the cases whereas last traded timestamp would update only when there is a trade.
But again one can't really gauge it by just looking at one or two ticks. In a second there can be hundreds of ticks at the exchange but a trading terminal will only receive one or two ticks since it is streamed via the internet.
To receive tick by tick data one has to be located at the exchange.
We don't assign these timestamps, we just stream whatever exchange send us.