Definitions
In plain terms
Feeds can deliver trades, quotes, order-book changes, status messages, and reference fields in real time or as historical files.
Technical
A feed contract specifies product and venue scope, schemas and versions, message ordering, timestamps, identifiers, corrections, entitlements, delivery guarantees, and operational notices.
Scope
A feed is not a neutral view of the whole market; coverage and licensing are part of its meaning.
Examples
- A governed dataset records market data feed explicitly and preserves the source context needed to interpret it.
Common misconceptions
- Market Data Feed does not have one universal meaning or policy without its declared source, scope, and data contract.
Concept relationships
Related
Required by
Where this concept is used
- ImportantStale-Quote DetectorD01-F02-A04
- ImportantDuplicate-Trade ResolverD01-F02-A05
- ImportantCrossed/Locked Market DetectorD01-F02-A06
- ImportantRefresh-Time SamplingD01-F03-A03
- ImportantFeed-Latency MonitorD01-F04-A02
- ImportantPrice-Source Consensus CheckD01-F04-A03
- ImportantSchema-Drift Detector: Catch Structural and Semantic Contract ChangesD01-F04-A04
- ImportantIntraday Index-Level CalculationD03-F01-A05
Evidence and governance
- Daily TAQ Client Specification New York Stock Exchange / Intercontinental Exchange · official exchange
Supports: preferred label, short definition, technical definition
Limits: Product-specific and licensed; it does not create universal eligibility, repair, imputation, tolerance, or aggregation rules.
- Fintech Builder Glossary Definition Contract The Fintech Builder · internal governed contract
Supports: variant distinction
Limits: Defines governed platform behavior rather than claiming these policies are universally prescribed by external McClellan methodology.
- Reviewed by
- fintech-builder-owner-approved
- Last reviewed
- 2026-07-26
- Next review
- 2027-07-26
- Record status
- published