Understanding stock market data feeds is simpler than it sounds. Think of these feeds as different levels of detail you can see in the PSX (Pakistan Stock Exchange) order book.
1. Level 1 Data: The Snapshot
This is the basic information everyone sees.
What it is: The best available price right now.
Key Data: You get the Last Traded Price (LTP), the highest price a buyer is offering (Best Bid), and the lowest price a seller is asking (Best Ask).
Analogy: It's like only seeing the first two rows of a movie theater—you know who's closest, but nothing about the rest of the crowd.
PSX Use: Perfect for long-term investors or those making standard trades.
2. Level 2 Data: The Full Picture
This gives you a clear look at the Depth Chart.
What it is: A list of all pending Buy and Sell orders at different prices, not just the best ones.
Key Data: It shows you the volume (number of shares) waiting to trade at prices both higher and lower than the current price.
Analogy: This shows you every row in the movie theater—you see the entire crowd of buyers and sellers waiting.
PSX Use: Crucial for active traders who need to identify big Support and Resistance "Walls" before placing trades.
3. Level 2 Formats: How the Data is Counted
Level 2 data is delivered in two main ways, depending on how the orders are grouped:
A. MBP (Market-by-Price)
What it is: The orders are grouped (aggregated) by price.
Example: If five people want to buy 100 shares each at PKR 50, the feed shows one line: 500 shares at PKR 50.
PSX Use: This is the standard, easy-to-read format used to create the visual Depth Chart. (MPO is a less common term sometimes used interchangeably with MBP).
B. MBO (Market-by-Order)
What it is: The orders are listed individually, even if they are at the same price.
Example: For the same five people, the feed shows five separate lines: 100 shares at PKR 50 each.
PSX Use: Used by large professional and algorithmic traders who need to track every single trade request, looking for signs of large funds entering or leaving the market.
4. Where to Access All PSX Market Data
Accessing detailed data on the Pakistan Stock Exchange is critical for making informed decisions.
Level 1, Level 2 (MBP), and Level 2 (MBO) Data: You can access and visualize all of these key market data feeds—from the basic Level 1 to the granular MBO data—directly and easily on the StockIntel platform. We consolidate the necessary feeds to give you the most complete, real-time view of the market's supply and demand.
In summary, StockIntel provides everything you need—from Level 1 to the most advanced MBO data—to gain a strategic advantage on the PSX.