Interactive Data launches new consolidated order book service

Interactive Data Corporation, a provider of financial market data, analytics and related solutions, has announced that its Real-Time Services business has launched PlusBook, a new consolidated order book service for the European financial industry.

PlusBook, which is designed to help address the best execution mandates embodied in the Markets in Financial Instruments Directive (MiFID) and provide sub-millisecond performance, enables the user to track liquidity in real-time across multiple venues, said Interactive Data.

PlusBook provides a consolidated order book designed to help financial institutions gain a complete view of global market liquidity by aggregating orders from multiple venues, including those based in the US market.

According to Interactive Data, PlusBook can be integrated quickly and easily with PlusFeed, Interactive Data's low-latency digital data feed that delivers a broad range of global financial information from over 450 sources and exchanges worldwide, covering more than six million instruments.

Providing low-latency access to streaming level 1 and 2 data, PlusBook identifies each trading venue by Market Identification Code (MIC) and covers all markets available on PlusFeed, subject to client entitlements, added Interactive Data.

PlusBook derives the sum of orders at a specific venue at a specific price, providing financial institutions with an aggregate of orders from different venues which can help track market liquidity.

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Related terms: book, business, market, track