STRASMORE/EXPLORE 3,293 QUERIES
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Trade messages vs quote messages, one session, five stocks

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 2026-09-24, from What Does Historical Tick Data Cost?.

as of ranking 5×4read in context →
Trade messages vs quote messages, one session, five stocks — 5 rows by 4 columns, computed from US exchange, SIP and OPRA data.
symboltrade_millionsquote_millionsquotes_per_trade
NVDA2.052.111
AAPL0.91.21.3
SPY0.523.055.9
MSFT0.410.310.8
KO0.290.471.6
Rows × columns
5 × 4
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for Trade messages vs quote messages, one session, five stocks, derived from the stored result.
ColumnTypeRangeNotes
symbol text 5 distinct values (AAPL, KO, MSFT…)
trade_millions number 0.29 to 2.05
quote_millions number 0.31 to 3.05
quotes_per_trade number 0.8 to 5.9

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
    t.symbol                      AS symbol,
    round(t.trades / 1e6, 2)      AS trade_millions,
    round(q.quotes / 1e6, 2)      AS quote_millions,
    round(q.quotes / t.trades, 1) AS quotes_per_trade
FROM
(
    SELECT
        ticker  AS symbol,
        count() AS trades
    FROM global_markets.stocks_trades
    WHERE ticker IN ('SPY', 'AAPL', 'NVDA', 'MSFT', 'KO')
      AND sip_timestamp >= toDateTime('2026-08-19 08:00:00')
      AND sip_timestamp <  toDateTime('2026-08-20 08:00:00')
    GROUP BY ticker
) AS t
INNER JOIN
(
    SELECT
        ticker  AS symbol,
        count() AS quotes
    FROM global_markets.cache_stocks_quotes
    WHERE ticker IN ('SPY', 'AAPL', 'NVDA', 'MSFT', 'KO')
      AND sip_timestamp >= toDateTime('2026-08-19 08:00:00')
      AND sip_timestamp <  toDateTime('2026-08-20 08:00:00')
    GROUP BY ticker
) AS q ON q.symbol = t.symbol
ORDER BY trade_millions DESC
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