Definitions
In plain terms
Depending on the dataset, a tick can be a trade, quote update, order-book event, or another message—not necessarily a price movement.
Technical
Tick meaning is feed-specific and must retain message type, source, instrument, event time, sequence, conditions, and correction semantics.
Scope
Do not confuse a data tick with tick size, the minimum allowed price increment.
Examples
- A governed dataset records tick explicitly and preserves the source context needed to interpret it.
Common misconceptions
- Tick 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
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