PRISM API Glossary

Canonical ID

A canonical ID is a single, standardized identifier that uniquely represents an asset across all exchanges and data sources. It solves the problem of different platforms using different symbols for the same asset.

Asset Resolution

Asset resolution is the process of identifying which asset a trading symbol refers to. It maps exchange-specific symbols like "BTCUSDT" or "BTC-PERP" to their underlying assets.

Symbol Mapping

Symbol mapping is a lookup table that connects different symbol formats to the same underlying asset. It translates between exchange-specific naming conventions.

Cross-exchange Data

Cross-exchange data aggregates market information from multiple trading venues into a unified view. It lets you compare prices, volumes, and liquidity across exchanges.

Technical

(7 terms)

REST API

A REST API (Representational State Transfer) is an interface that uses HTTP requests to access and manipulate data. It's the standard way to build web APIs.

WebSocket

WebSocket is a protocol that enables real-time, two-way communication between client and server over a single persistent connection. It's essential for streaming market data.

Rate Limiting

Rate limiting restricts how many API requests a client can make within a time window. It protects servers from overload and ensures fair access for all users.

API Key

An API key is a unique identifier that authenticates requests to an API. It identifies who's making the request and what permissions they have.

Endpoint

An endpoint is a specific URL where an API can be accessed. Each endpoint typically handles a specific type of request or returns a specific type of data.

Batch Request

A batch request combines multiple API calls into a single request. It reduces network overhead and helps stay within rate limits.

Webhook

A webhook is a way for an API to push data to your server when specific events occur. Instead of polling for updates, you receive them automatically.

Data Types

(9 terms)

Real-time Data

Real-time data is market information delivered with minimal delay, typically within milliseconds of occurring. It includes live prices, trades, and orderbook updates.

Historical Data

Historical data is past market information used for backtesting, analysis, and research. It includes historical prices, volumes, and trading activity.

OHLCV

OHLCV stands for Open, High, Low, Close, Volume—the five data points that summarize price action over a time period. It's the standard format for candlestick data.

Ticker Symbol

A ticker symbol is a short code used to identify a tradeable asset. Examples: BTC for Bitcoin, AAPL for Apple, ETH-USD for Ethereum priced in dollars.

Market Data

Market data is information about trading activity including prices, volumes, bids, asks, and trade history. It's the foundation for trading decisions.

Order Book

An order book is a list of all buy and sell orders for an asset, organized by price level. It shows market depth and where supply and demand exist.

Liquidity

Liquidity measures how easily an asset can be bought or sold without significantly impacting its price. High liquidity means tight spreads and deep orderbooks.

Slippage

Slippage is the difference between the expected price of a trade and the actual execution price. It occurs when there's not enough liquidity at your target price.