Level 1 Quotes - Prediction

The BMLL Level 1 Quotes dataset for Prediction Markets gives a tick-by-tick view of the best bid and offer on every CME Event Contract. For binary instruments where price equals probability, Level 1 is the cleanest representation of the market's continuously updated belief about the outcome: the BBO at any nanosecond is the consensus probability at that nanosecond.

Level 1 quotes are derived from the same BMLL Level 3 reconstruction that powers the full-depth product, which means top-of-book values are consistent with deeper-book views by construction.

Product Overview

• Best bid and best offer, with sizes and number of orders at the best price, tick by tick
• Coverage of all event contracts across XCBT, XCEC, XCME, XNYM
• Market State joined in for every record, so the trading phase is visible at the quote timestamp
• Timestamps at or exceeding venue matching-engine precision (nanosecond or microsecond)
• Same schema as BMLL Level 1 Quotes for futures and options

Example Use Cases

• Probability Signal Research — Build a continuously updated probability time series at top-of-book granularity. Useful for sentiment overlays in macro and event-driven strategies.
• Execution Quants — Backtest order routing and execution decisions against the BBO context that was present at the moment of decision.
• Quant Backtesting — Run low-to-mid-frequency strategies that need accurate BBO replay but do not need full-depth dynamics.

Product description