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Feed - is the fundamental unit to which the Customer Application subscribes. A Feed can support 1) market data 2) trading, 3) STP 4) any combination of the preceding.

Each feed is identified by a unique integer in the Whisperer application. Subscriptions are made to specific feeds. Market data and trading messages will typically contain the 'feedID' identifying the Trading Venue with which it is associated.

 

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Markets - is an instrument available on a Trading Venue via the API, such as EUR/USD Spot.

The list of available Markets may be different for each Trading Venue. For foreign exchange spot ECN's, this is typically the list of currency pairs supported by the ECN. For futures exchanges, such as the CME, it is the list of the foreign exchange futures contracts available.

 

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