Top of book messages against prints on the tape, AAPL, June 10 2026
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-12, from How to Estimate Queue Position From L2 Data.
| et_time | quote_updates | trades | updates_per_trade |
|---|---|---|---|
| 08:00 | 3490 | 4267 | 0.8 |
| 09:00 | 221819 | 141430 | 1.6 |
| 10:00 | 279898 | 195268 | 1.4 |
| 11:00 | 307855 | 162380 | 1.9 |
| 12:00 | 268815 | 112123 | 2.4 |
| 13:00 | 251012 | 95582 | 2.6 |
| 14:00 | 174920 | 95319 | 1.8 |
| 15:00 | 233433 | 149303 | 1.6 |
- Rows × columns
- 8 × 4
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
et_time |
text | 8 distinct values (08:00, 09:00, 10:00…) | |
quote_updates |
number | 3,490 to 307,855 | |
trades |
number | 4,267 to 195,268 | count |
updates_per_trade |
number | 0.8 to 2.6 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT
q.et_time AS et_time,
q.quote_updates AS quote_updates,
t.trades AS trades,
round(q.quote_updates / t.trades, 1) AS updates_per_trade
FROM
(
SELECT
formatDateTime(toStartOfHour(toTimeZone(sip_timestamp, 'America/New_York')), '%H:%i') AS et_time,
count() AS quote_updates
FROM global_markets.cache_stocks_quotes
WHERE ticker = 'AAPL'
AND sip_timestamp >= '2026-06-10 12:00:00'
AND sip_timestamp < '2026-06-10 20:00:00'
GROUP BY et_time
) AS q
INNER JOIN
(
SELECT
formatDateTime(toStartOfHour(toTimeZone(sip_timestamp, 'America/New_York')), '%H:%i') AS trade_hour,
count() AS trades
FROM global_markets.stocks_trades
WHERE ticker = 'AAPL'
AND sip_timestamp >= '2026-06-10 12:00:00'
AND sip_timestamp < '2026-06-10 20:00:00'
GROUP BY trade_hour
) AS t ON q.et_time = t.trade_hour
ORDER BY et_time
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