Quote Aggregation
Fair pricing from multiple sources
We combine quotes from leading banking and non-banking liquidity providers, forming the best price (BBO) and unified market depth. This is the foundation of fair NDD execution: no dealing desk, no conflict of interest.
Why Quote Aggregation Matters
Different benefits for different market participants
Aggregation reduces spreads and stabilizes price flow, decreasing operational risks and execution costs. You get predictable quality and TCA reports without direct contracts with each LP.
Sources and NDD Model
We operate on the NDD/A-book model: client orders are routed to external LP/ECN/exchanges. Quote sources include flows from leading market makers.
Disclaimer: Counterparty mentions are for informational purposes. Access to specific flows depends on jurisdiction, client status, and connection terms.
How It Works: Aggregation Pipeline
From multiple feeds to best price and depth
Parallel secured channels (TLS) with stability and latency monitoring for each source
Multiple simultaneous connections to tier-1 liquidity providers with redundancy and failover capabilities
Symbol mapping (EURUSD vs 6E), precision unification, volume unit conversion
Standardize different LP formats into unified data structure for consistent processing
All timestamps in UTC, drift tolerance limited; using PTP/NTP protocols
Microsecond-level time synchronization ensures proper sequencing and latency measurement
Filter anomalous ticks using local/rolling thresholds, cross-check with reference sources
Statistical algorithms detect and remove price outliers that could distort BBO formation
Best bid = max Bid, best ask = min Ask across all sources considering firm/last look status
Real-time calculation of best available prices with quality scoring and latency weighting
Merge order book levels into unified Depth of Book; consolidate volumes by price levels
Combine multiple order books into single deep liquidity pool with proper volume aggregation
BBO and Depth Formation
How aggregation affects execution quality
Best Bid/Offer is formed among all valid sources. This typically tightens spreads through quote competition.
Example: In calm EUR/USD market, Composite spread may range 0.1-0.3 pips vs 0.3-0.8 pips from single LP.
*Not guaranteed; depends on market conditions
Combined depth increases available volume at top levels — higher chance of full execution and lower slippage.
Quality Metrics & Benchmarks
Performance indicators for our aggregation technology
Up to dozens of updates/sec for major FX pairs
2-6ms from tick receipt to aggregated update publication
High percentage of time Composite improves or matches best Single LP price
Note: Metrics depend on market conditions and sources; provided for informational purposes only.
Frequently Asked Questions
Common questions about quote aggregation
Ready for Fair Pricing and Deep Liquidity?
Experience the benefits of advanced quote aggregation technology
Ready for fair pricing and deep liquidity?
Open AccountEnable NDD aggregation in 1-2 days
Request IntegrationAsk our engineers directly
Contact Us