From raw market data to the price your clients see.

1. Receive the market data you trust

A feed can start with institutional liquidity over FIX, direct exchange prices, independent reference markets, prices from your own trading systems, or a combination of them.

Each source keeps its own identity inside the pricing flow. That matters because the rule for one instrument may call for a consensus, while another may need a preferred source and a specific backup.

CoinPriceFeeds also maps venue instrument names to the names your team already uses. A source naming change does not have to become a rewrite of every client-facing rule. See the available market data source categories.

2. Build the price for each symbol

Raw prices are not automatically suitable for a brokerage book. Your feed needs a clear policy for how inputs become an output.

For example, a symbol could:

1. combine several preferred sources;
2. use another valid source if the preferred group is unavailable;
3. apply the instrument’s markup and spread policy;
4. round outward to the required precision; and
5. switch to a different rule set during a specific session.

The actual policy is held in a client-specific Google Sheet. Dealers and risk staff can work in a familiar interface with comments and revision history, while CoinPriceFeeds validates the rules and applies them to live quotes. Learn more about the custom pricing engine.

3. Check every quote before delivery

The system treats bad data as a normal operating condition that needs a defined response.

An abnormal jump can be held back. An explicitly cancelled source can be removed from every dependent calculation immediately. Frozen or late data stops qualifying, and impossible output—such as a zero, non-finite, or crossed quote—is rejected.

The previous accepted value and the reason for protection remain visible, so an incident starts with evidence rather than guesswork. Read the quote protection overview.

4. Send the same result to several consumers

Once a quote passes the feed’s rules and controls, it can be sent through a simple streaming connection or FIX 4.4. Different consumers can subscribe to different symbol sets, and one slow connection cannot hold back the pricing engine or another client connection.

That makes it practical to send one pricing policy to more than one platform integration without maintaining a different calculation in each destination. Review delivery and integration options.

5. Keep a primary and backup path ready

CoinPriceFeeds can run the same feed through concurrent primary and backup endpoints. Both expose a fingerprint of the pricing rules they have loaded, which makes configuration agreement easy to check.

Comparison tooling goes further: it can sample both connections and compare prices, spreads, activity, symbol liveness, and the loaded configuration. This turns “the backup should be the same” into something testable. See redundant price-feed delivery.

6. Make the state understandable

The client dashboard shows current values, age, source relationships, schedule state, and clear markers for protected, invalid, or stale quotes. Readers can inspect. Authorized writers can activate a validated sheet change or reset protected state through controlled actions.

Monitoring covers quote activity, delivery, connected consumers, delay, source invalidations, and service health. Together, the client dashboard and monitoring tools provide a shared view for dealing, risk, and technical teams.