Market Data
Market data is information about trading activity including prices, volumes, bids, asks, and trade history. It's the foundation for trading decisions.
Understanding the Concept
Market data is the raw material of trading. Without it, you're flying blind. Prices tell you what assets are worth. Volume tells you how much interest exists. Orderbook depth tells you where liquidity sits.
There are levels of market data. Level 1: best bid and ask prices. Level 2: full orderbook depth. Level 3: individual orders and their sizes. Deeper levels = more insight but more data to process.
Quality market data is expensive to produce. Someone has to connect to every exchange, handle their unique formats, normalize everything, and distribute it reliably. That infrastructure cost is why market data has value.
Real-World Example
You're analyzing BTC market health. Market data shows: price $50,000, 24h volume $30B, bid-ask spread 0.01%, orderbook depth $50M within 1%. This tells you it's a liquid, active market with tight spreads—good for trading.
How PRISM Handles This
PRISM provides Level 1 and Level 2 market data for all supported assets. Real-time via WebSocket, historical via REST. We aggregate across exchanges so you see the complete market picture, not just one venue's view.
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