June 30, 2020

Reliable Market Data

We would like to start a cycle of short articles that will highlight the main Axon Trade advantages and explain why you might consider using our services and ecosystem to build your next big thing.

Market data is fuel for the financial industry. No matter what you are doing – watch a chart, trade through some platform, or run automated strategies – the data is what makes the wheels spin.

Despite its’ inherent openness, crypto market data is not an easy nut to crack. If your needs are a bit more than ETH/BTC from Binance, then you enter a territory of different protocols, unreliable transfer channels, out of the blue API changes, and proprietary, very unique symbology standards. A “build to last” approach does not work here; much of your resources will be immediately consumed by dozens of small tasks related to market data channels. Of course, if data distribution is the core of your business, it makes perfect sense to build and maintain these connections in-house. But if not?

For the last two years Axon Trade successfully provided reliable market data from major digital assets exchanges from the US, Asia, and Europe. Coinbase Pro, Gemini, Binance US, OKCoin, Binance, Huobi, OKEx, Bitmart, HitBTC, Bittrex, Bitstamp – this is just to name a few.

The biggest advantage is that data is coming in a normalized format using FIX 4.4 protocol. Instead of streaming huge entire order book updates, our servers optimize the flow by sending only actual changes (in a form of “MarketDataIncrementalUpdate” messages). We send you the updates only, not the entire order book over and over, which is how it comes through natively for many exchanges.

For financial professionals with relevant experience, integration with Axon Trade’s market data streaming services is a question of days (sometimes hours) rather than weeks and months when dealing with native exchange formats.

To those who are not familiar with FIX, we provide code samples and expert integration assistance.

Being a member of the FIX Trading Community, Axon Trade does its best to spread the word regarding utilizing the FIX protocol for streaming digital asset market data. We believe that a unified protocol such as FIX can significantly improve reliability and reduce the cost of ownership for our current and future clients.

Let us know if you would like to try our services with a free, no-obligation trial period.