Prefer Streaming for Production UseThis polling API is subject to rate limits. For production applications that need continuous market data, use the gRPC Market Data Stream instead. The streaming API provides real-time updates with lower latency and no rate limit concerns. Endpoints
No Participant ID RequiredThese endpoints only require Auth0 JWT authentication with read:marketdata scope. You do not need to provide the x-participant-id header or complete KYC onboarding to access order book data.
L2 Order Book
The L2 (Level 2) order book provides aggregated price levels showing the total quantity available at each price point. This is useful for:
- Understanding market depth at different price levels
- Analyzing liquidity distribution
- Building trading strategies based on order book imbalance
Request Parameters
Response Fields
Book Entry Structure
Each entry in the bids and offers arrays contains:
Best Bid/Offer (BBO)
The BBO endpoint returns only the top of book - the best (highest) bid and best (lowest) offer. This is the most efficient way to get current market prices.
Response Fields
Instrument State Tracking: The state field in order book and BBO responses is optional. The preferred approach is to use ListInstruments to get and cache the initial state, then subscribe to the instrument state change subscription for real-time state updates.
Instrument States
Instruments follow the primary lifecycle: PENDING → OPEN → CLOSED → EXPIRED → TERMINATED. Instruments may also be SUSPENDED or HALTED during their lifecycle.
Primary State Flow
Exception States
Other Possible States
Example Usage
Get L2 Order Book
Get BBO
When to Use
Streaming First ArchitectureFor any use case requiring more than occasional snapshots, use the streaming API. It provides:
- Real-time updates as they happen
- No rate limiting concerns
- Lower latency than polling
- Reduced API calls and infrastructure load
