Real-time and historical financial information that captures trading activity, prices, and related metrics across various financial markets and instruments.

Market Data

Market data forms the foundational layer of modern financial markets, providing the critical information flow that enables trading, analysis, and decision-making across the global financial ecosystem.

Core Components

Price Information

Real-time quotes and bid-ask spreads
Historical price series
Opening price and closing price data
Intraday trading patterns

Volume Metrics

Trading volume
Order book depth
Market depth indicators
Liquidity measures

Reference Data

Security identification codes (CUSIP, ISIN)
Corporate actions
Fundamental data (earnings, dividends)
Instrument specifications

Data Types

Level 1 Data

Basic market data including:

Best bid and offer (BBO)
Last trade price
Trading volume
Basic market sentiment indicators

Level 2 Data

Detailed order book information:

Full order book depth
Market maker identities
Order flow analysis
Price discovery mechanics

Level 3 Data

Complete trading information:

Individual order details
Trade execution data
Trading algorithm inputs
Market microstructure elements

Applications

Trading Operations

Analysis and Research

Compliance and Oversight

Distribution Methods

Real-time Feeds

Direct exchange feeds
Market data vendor services
API connections
WebSocket streaming

Historical Databases

Time-series databases
Data warehouse systems
Cloud storage solutions
Archive services

Quality Considerations

Market data quality is critical for financial operations:

Accuracy and precision
Data latency management
Completeness of coverage
Data normalization standards

Market Impact

The availability and quality of market data significantly influences:

Market data continues to evolve with technological advances, driving innovations in financial technology and shaping the future of financial markets.