T2G ICB-Frag Detection — MBO
One big aggressor. Dozens of small passives. All revealed.
A single signal in the Current At Ask column exposes the identity, volume, and microstructure of every participant — institutional aggressor versus fragmented retail passives.
2A[158]F — ICB-Frag 7205.75 · 2 aggressor IDs
158 lots · retail passives
Small prints <6 lots
158 lots · retail passives
Small prints <6 lots
A[50]F — ICB-Frag 7205.50 · 1 algo aggressor
50 lots · 33 distinct IDs
100% small prints
50 lots · 33 distinct IDs
100% small prints
![T2G DOM — ICB-Frag ESM6 zoomed: Current At Ask column showing 2A[158]F and A[50]F signals with MBO participant breakdown](/images/icb-fragmented.avif)
3 signals · same zone 7206.00: 61L · 34 IDs
7205.75: 158L · 2 agg
7205.50: 50L · 33 IDs
7205.75: 158L · 2 agg
7205.50: 50L · 33 IDs
ICB-Frag · How T2G reads it
158 lots — largest signal
2 aggressor IDs · 7205.75
43 passive IDs — max
all distinct · retail
<6 small prints
< 6 lots each
3× detections
same zone · 6 min window
Algo Aggressor
Market buy — single or few unique IDs. Decisive, automated institutional execution. Absorbs passive liquidity without concealment. Standard DOM shows only the aggregated total.
Fragmented Passives
Dozens of distinct IDs, each <6 lots. Retail signature. An ICB would fragment while keeping the same ID — T2G would see it. Here, all IDs are different: no institutional passive block at this level.
01
MBO ID tracking
Order-by-order tracking of every participant in real time
02
Aggressor isolation
Identifies the dominant buying ID across execution clusters
03
Passive analysis
Counts distinct passive IDs and their size distribution
04
ICB distinction
ICB = same ID fragmented. Multiple distinct IDs = retail. T2G separates them.
<6 lots small prints
ICB ≠ Retail T2G distinction
Multi-ID retail passives
MBO only data source
T2G DOM — Bookmap Add-on
Read the DOM the way institutions do.
ICB-Frag Detection is one of the exclusive MBO-powered capabilities built into T2G DOM. Available to all active license holders.