How are charts for bond markets formed on TV

Since most bonds exhibit low liquidity, traditional charts based solely on executed trades may result in "gaps" or stagnated price lines that do not reflect real-time market sentiment. To provide a more comprehensive view, we have integrated The Hybrid Mid-Price Model, which incorporates bid and ask quotes into our charting engine alongside executed trades, ensuring granular detail regardless of trading volum

How it Works

During intraday sessions, the system (same like some of the exchanges) follows a strict hierarchy for plotting data points to ensure continuous and accurate price discovery:

1. Last Traded Price (Priority): Whenever an on-book transaction occurs, the chart plots the actual execution price. These points carry the official traded volume.
2. Mid-Price (Liquidity Filler): In the absence of trades, the system calculates the Mid-Price – the arithmetic mean between the Best Bid and Best Ask in the order book.Mid price = (best bid + best ask)/2These points ensure a gapless price line regardless of trading frequency. These points carry zero volume

This approach provides more granular "gapless" charts that reflect market consensus and market-maker adjustments even during periods of zero trading activity. This approach is used on many exchanges, such as SIX Swiss Exchange

Supported Exchanges & Platforms

The following exchanges currently utilize The Hybrid Mid-Price Model: