FIX Market Data
FIX market-data sessions provide orderbook and trade data for institutional systems that already consume FIX.
MarketDataRequest
Clients subscribe with MarketDataRequest (35=V).
| Field | FIX tag | Notes |
|---|---|---|
| MDReqID | 262 | Client request id |
| SubscriptionRequestType | 263 | Snapshot, subscribe, unsubscribe |
| MarketDepth | 264 | Requested book depth |
| MDUpdateType | 265 | Full refresh or incremental |
| NoMDEntryTypes | 267 | Bid, offer, trade |
| NoRelatedSym | 146 | Requested symbols |
Snapshot and incremental
| Message | MsgType | Purpose |
|---|---|---|
| MarketDataSnapshotFullRefresh | W | Initial book or requested snapshot |
| MarketDataIncrementalRefresh | X | Real-time deltas |
Clients should treat sequence continuity as mandatory. On a detected gap, request a fresh snapshot before applying further deltas.
Supported data
- Best bid and offer
- Level-2 book depth
- Public trades
- Market status
- Trading halts and maintenance events
Latency tiers
FIX market data is available in retail, pro, and institutional tiers. Contracted institutional tiers can receive higher throughput and lower coalescing.