🎯 Depth of Market (DOM)

Interactive order book showing bid/ask levels and market depth

Interactive demonstration of trading platform functionality

Interactive DOM trading demonstration

The DOM (or price ladder) in ProjectX allows traders to see the orders that are accumulating at each price level for a futures contract. The DOM allows traders to see who is in control of the market and at what price they are in control, and act accordingly. It offers 1-click trading, advanced order types, and more.

DOM with full Level 2 data

ProjectX uses Explicit Book for market data on the DOM versus displaying an Implied Book.

In futures trading, the implied book and explicit book are two different components of market data that provide information about orders and prices.

Explicit Book: The explicit book contains actual orders that traders have directly entered into the market. These are real, visible bids and offers that participants have explicitly placed.

Implied Book: The implied book contains synthetic orders based on relationships between different contracts or trading strategies. These orders are not directly entered by traders but are derived from other existing orders, including options strategies.

Key differences:

By default, most traders will have Level 1 or 'Top of Book' data only. This provides a single level of market data, showing the best bid and best ask price. While still fully able to trade and make informed decisions, it does lack in full context of the buyers and sellers in the market:

Level 1 / "Top of Book"

Level 2 data, also known as Depth of Market (DOM) or price ladder, provides more comprehensive market data by displaying multiple levels of bid and ask prices. This allows traders to view the full range of buy and sell orders in the market, offering deeper insights into market depth and liquidity. With Level 2 data, traders can make more informed decisions by understanding the supply and demand dynamics at various price levels.Note: Level 2 is typically an additional add-on ($), please check with your firm:

Level 2 / "Depth of Market"

The Price column displays the various price levels at which futures contracts can be traded. Each row represents a different price point, enabling traders to see where they can place buy or sell orders. The prices are arranged vertically, with the market's current price level typically highlighted for easy reference.

Price Column

The Bid Size column indicates the quantity of contracts that buyers are willing to purchase at each price level. Each row corresponds to the amount of interest from buyers at the respective price point. This helps traders gauge the market demand and potentially identify strong support levels.

Bid Size Column

The Ask Size column indicates the quantity of contracts that buyers are willing to purchase at each price level. Each row corresponds to the amount of interest from buyers at the respective price point. This helps traders gauge the market demand and potentially identify strong support levels.

Ask Size Column

The Volume Profile represents the distribution of traded volume at each price level. This profile helps traders identify significant price levels where high levels of trading activity occurred. It provides insights into market sentiment and potential areas of support and resistance based on the volume of contracts traded at various prices.

Volume Profile

The My Ask & Bid columns indicate where you may have working orders. The can be Limit Orders, Stop Orders, Trailing Stops or Take Profit orders.

My Ask / Bid. Above shows a working limit buy order

🎯 Real-Time Market Data

Streaming market data and price updates

Interactive demonstration of trading platform functionality