I have a question about the time we get back on Quote messages in WebSockets API. The only non-deprecated times field appears to be QUOTIM_NS. The Data Model Discovery app describes this fields as "Time of best bid/ask quote update - self describing timestamp supporting up to nanosecond granularity." I understand this to mean that it is the time that the current best bid/ask _became_ the best bid/ask, not the time that the current best bid/ask was posted. Is this correct?
- A bid happens at 12:00 for $10. QUOTIME_NS is 12:00, BID is $10
- A bid happens at 12:01 for $11. QUOTIME_NS is 12:01, BID is $11
- At 12:02, the 12:01 bid is retracted. The 12:00 bid is now the best bid. QUOTIM_NS is 12:02, BID is $10
And to verify my understanding, the "best" bid is the highest bid and the "best" ask is the lowest ask?