The market tick

1. Summary
2. Detail
3. See also

1. Summary

market_tick is the tick that a party receives for every asset class. It is declared in ores.marketdata.api/messaging/operations_protocol.hpp. The service builds it after mapping and storage. It is a different message from the adapter tick: the adapter tick carries a vendor id, and the party tick carries the internal item.

2. Detail

2.1. The fields

oresmd_uri is the quote URI of the item observed.
value is the observed value as decimal text, so the digits survive the trip.
observation_time is the vendor time of the value.
provider is the provider code of the series.
source is the id of the source that produced the value. It is information for the party. A party can use it to find out that the source is simulated. No logic may depend on it. See No code path may behave differently because a source is simulated.

The tick carries no tenant and no party. The subject carries them.

2.2. How the datum URI carries the asset identity

A URI such as oresmd://ir/USD?type=quote&instrument=ir_swap&quote=rate&fwd_start=0D&tenor=3M&term=5Y names the instrument type, the quote type and every coordinate field of the datum. oresmd_uri_codec::read is strict, so a URI names exactly one datum or is refused. See The oresmd datum identity.

2.3. The subject

market_tick_subject(tenant, party, oresmd_uri) builds marketdata.v1.ops.market_tick.<tenant>.<party>.<token>. See The adapter subjects.

3. See also

Market Data Architecture — the structure note that orders this cluster.
The adapter subjects — completes: the first half of a tick's journey.
The ingest loop and the one pipeline — completes: the loop that builds this tick.