Platforms and automation · Rookie
Level 1 market data
Also searched as: L1, top of book
What does Level 1 market data mean?
Level 1 market data provides the best bid and ask and associated top-of-book information. It does not provide the same view of multiple resting price levels as depth data.
Example
An account shows the nearest buy and sell quotes but no full order-book ladder.
Illustrative example; not a provider’s quoted offer.Why it matters for prop traders
Check which data package is included at each prop-account stage and whether the feed is live or delayed.
Sources and further reading
The following primary sources support the terminology. Provider rules describe their own products and may change.