Tsachi Galanos, CEO
The financial market has always been highly volatile, where millions of dollars are at stake every minute. The more information that traders have, the better they are equipped to make a successful sale and turn a profit. With such high stakes, there is a dire need for transparency in the industry such that traders can have more information at their disposal. Delivering on this transparency, Cyprus-based Bookmap is carving out a name for itself in the financial sector. The firm processes vast amounts of data through visual means such as heat map and 3D volume and aggressor classification bubbles that helps traders make more informed and data-driven decisions in stocks, futures, and crypto markets.
“Today, most traders use candlestick charts that represent maybe five to ten percent of the information that is available in the market data,” says Tsachi Galanos, CEO of Bookmap. With this candlestick chart, users can only see the highs, lows, open and close of the price, which is very limited. “About 90 to 95% of the information is missing, traders don’t see the historical market liquidity so there is no way for them to understand what’s going on at each point in time,” he continues. As a result, traders often make their decisions more like guesswork with less confidence.
Founded in 2007, Bookmap started as an algo-trading entity and eventually progressed more into a development of visualization and trading platform for stocks, futures, and crypto.
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The platform has since developed its tools to visualize better what happens when orders are placed in the market. The tool, Heatmap, helps show the market data much more accurately and gives out more information than conventional charts. “It visualizes the liquidity in the market, both past and present” explains Galanos.
Since the first Heatmap product was introduced in the market, many traders have worked with the firm and helped bring it into other forms of trading by creating the Bookmap platform according to their requirements. The firm continually gets new requests for trading features and market analysis abilities. These are regularly integrated on to the platform to make the product more robust and utilitarian. The visualization offers a refresh rate of 40-times per second that enables clients to view the market like HD video. It gives a three-dimension view of all the data representing all the volume that was traded, with delta visualization.
To get their customers up and running, Bookmap has created educational material on utilizing the aforementioned platform and offers a four-section course, which explains all of the necessary processes.
It also provides materials that give users a step-by-step explanation of how the market works as well. This data is shared via knowledge bases that supplement Bookmap’s daily webinars to educate traders.
The firm spans both B2C and B2B spectrums, addressing varied client prerequisites in the financial marketplace. The firm partners with brokers and exchanges that wish to give an edge to their clients. An example of this is a partnership that was recently, with one of the largest brokers in the world that embedded the Bookmap platform into their main trading platform and started to release it to their customers.
The firm also offers APIs such that customers can build add-ons that run with Bookmap’s platform to add layers of information on top of what is already provided by the platform. Interestingly, the firm developed unique addons that are based on market microstructure such as Stops & Iceberg detection, enabling traders to see where stops and iceberg were triggered.
As computational power continues to increase, Bookmap will be able to process and visualize a lot more data for clients, enabling them to make even more informed decisions. Currently partnering with US brokers, the company plans to expand into other closed markets around the world to give traders more impactful information. Not only that, the firm plans to move into the Bonds, Options, and Forex markets as well.