Market Data Timestamps: SIP vs Exchange Clocks
Off exchange AAPL prints by reporting delay, 10 June 2026ranking ·
2026-08-14 · 5×3
The same twelve prints, ranked by venue clock and by tape clocktable ·
2026-08-14 · 12×7
SIP receive lag by venue, AAPL, 10 June 2026 (microseconds)ranking ·
2026-08-14 · 11×4
Prints that change bar when you switch clocks, by bar lengthranking ·
2026-08-14 · 4×3
PCAP Market Data: How Market Replay Works
Trade prints per second across the electronic day, June 10 2026series ·
2026-08-12 · 64×3
One minute of AAPL quotes, second by second, 09:30 ET on June 10 2026series ·
2026-08-12 · 60×3
Quote messages per trade, 09:30 to 10:00 ET on June 10 2026ranking ·
2026-08-12 · 5×3
AAPL quote clocks, SIP stamp minus exchange stamp, 09:30 to 11:00 ET on June 10 2026series ·
2026-08-12 · 9×4
SIP Feeds vs Direct Exchange Feeds
Which venues sat on the bid side of the quote record, KO on June 16, 2026ranking ·
2026-08-09 · 17×3
Quote update traffic across five household tickers, 10:00 to 11:00 a.m. ET on June 16, 2026table ·
2026-08-09 · 5×5
US equity exchanges that feed the consolidated tapetable ·
2026-08-09 · 18×4
Venue clock to consolidated tape clock, KO quotes on June 16, 2026series ·
2026-08-09 · 15×4
Off exchange AAPL prints by reporting delay, 10 June 2026
Off exchange AAPL prints by reporting delay, 10 June 2026
| reporting_delay | print_count | share_pct |
|---|---|---|
| under 1 ms | 14449 | 24.8 |
| 1 to 10 ms | 11243 | 19.3 |
| 10 to 100 ms | 6668 | 11.44 |
| 100 ms to 1 s | 25831 | 44.33 |
| 1 s to 10 s | 74 | 0.13 |
the exact SQL behind every number
WITH off_exchange AS
(
SELECT
(toUnixTimestamp64Nano(sip_timestamp)
- toUnixTimestamp64Nano(participant_timestamp)) / 1000000.0 AS delay_ms
FROM global_markets.stocks_trades
WHERE ticker = 'AAPL'
AND sip_timestamp >= '2026-06-10 14:30:00'
AND sip_timestamp < '2026-06-10 15:00:00'
AND ifNull(toUnixTimestamp64Nano(trf_timestamp), 0) > 0
)
SELECT
multiIf(delay_ms < 1, 'under 1 ms',
delay_ms < 10, '1 to 10 ms',
delay_ms < 100, '10 to 100 ms',
delay_ms < 1000, '100 ms to 1 s',
delay_ms < 10000, '1 s to 10 s',
'over 10 s') AS reporting_delay,
count() AS print_count,
round(100 * count() / (SELECT count() FROM off_exchange), 2) AS share_pct
FROM off_exchange
GROUP BY reporting_delay
ORDER BY min(delay_ms) ASC
More from this analysisMarket Data Timestamps: SIP vs Exchange Clocks
SIP receive lag by venue, AAPL, 10 June 2026 (microseconds)
ranking 11×4
→
Prints that change bar when you switch clocks, by bar length
ranking 4×3
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The same twelve prints, ranked by venue clock and by tape clock
table 12×7
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Which venues sat on the bid side of the quote record, KO on June 16, 2026
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