Market Data Explained

Again, this is a subset of the market data universe, which is categorized here into a

series of subclasses.

It is critical to note that reference data has a fundamental function within this frame-

work: it provides the means by which individual items are identified. Secondly, refer-

ence data is common across all financial instrument classes. These two characteristics

are so important, that this framework treats reference data content as its own class.

Reference data logic

The division of market data content into the two fundamental reference data and busi-

ness data classes is the first step in providing a means of simplifying the complexity

inherent ...