Definitions
In plain terms
A trade record normally says what instrument was executed, at what price and quantity, on which venue or facility, and when.
Technical
A normalized trade event should preserve instrument and venue identity, event time, price, quantity, currency, conditions, sequence or trade identifiers, and correction lifecycle.
Scope
Reported trade semantics and eligibility differ by venue, facility, asset class, and feed.
Examples
- A sale of 200 shares at 25.10 is one trade event before any bar aggregation.
Common misconceptions
- A trade is not the same thing as an order, a quote, or a daily price bar.
Concept relationships
Where this concept is used
- PrerequisiteTime BarsD01-F01-A01
- PrerequisiteTick BarsD01-F01-A02
- PrerequisiteVolume BarsD01-F01-A03
- PrerequisiteDollar BarsD01-F01-A04
- PrerequisiteTick-Imbalance BarsD01-F01-A05
- PrerequisiteVolume-Imbalance BarsD01-F01-A06
- PrerequisiteTick-Run BarsD01-F01-A07
- PrerequisiteOHLC Consistency ValidatorD01-F02-A01
- ImportantHampel Bad-Tick FilterD01-F02-A02
- PrerequisiteDuplicate-Trade ResolverD01-F02-A05
- ImportantLiquidity ScreenD03-F06-A02
Evidence and governance
- FIX Latest Online Specification — Market Data FIX Trading Community · official standard
Supports: preferred label, short definition, technical definition
Limits: Implementations use negotiated profiles; FIX fields do not impose one universal feed, stale-data, deduplication, or reconciliation policy.
- 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