What is 20 Market Depth Trading in India?

20 Market Depth refers to a “market-depth display”. It shows multiple levels of buy and sell orders for a security. Generally, a 20 market-depth screen displays the top 20 bid and ask price levels, subject to the exchange and trading platform’s data format.

It may show:

• Bid prices and quantities
• Ask prices and quantities
• Number of orders at different price levels
• Best bid and best ask
• Spread between the best bid and ask

For example, if a stock has buy orders at ₹500, ₹499.90, ₹499.80, and so on, the 20-market-depth view provides information about the “displayed demand” across multiple price levels.

Is 20 Market Depth Similar to Level 3 Data in the Stock Market?

No, 20 market depth and Level 3 data are not the same. 

The 

• The 20 market depth only shows aggregated order information at multiple price levels.
• In comparison, Level 3 data provides more detailed order-level information, such as “individual orders” and order modifications or cancellations.

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