What kind of course data are there?
Those who work with capital markets need a reliable quality: course data. They form the foundation for analysis, commercial decisions, reporting, product presentations or regulatory documentation. But course data is not equal to course data. Depending on the use case, the target group and the legal requirements, different course data types are used – each with their specific advantages, challenges and license requirements.
In this blog we show which types of course data there are, how they differ – and for what application they are suitable.
1. Realtime course data – immediately, without delay
Definition: Realtime courses reflect the exact course for which a securities are currently traded on the stock exchange. There is no time delay – the data stream is transferred immediately after price determination.
Areas of application:
- Online brokerage platforms
- Exchange and banking business
- Trading apps and terminals
- Derivatives trading (e.g. certificates, warrants)
- professional analysis and research tools
Example: A Fintech offers an app that allows users to react to fluctuations in the course in fractions of seconds – here real-time data is essential.
Two. Delayed course data – time-replaced, but currently enough
Definition: Delayed courses are provided with a delay (usually 15 minutes) to the original course. They thus offer a good compromise from topicality and costs.
Areas of application:
- Financial portals with stock exchange news
- Product pages of banks and savings banks
- Watchlists and pattern depots
- Comparative portals with capital market reference
Example: A news portal wants to map current stock prices without license costs for real-time data. Delayed courses are sufficient for the target group.
3. End-of-Day data (EoD) – retrospective with low speed
Definition: EoD courses (sleeping courses) show the last official price of a trading day – often including further daily data such as high, low, opening, volume.
Areas of application:
- historical chart analyses
- Backtesting of investment strategies
- Regulatory reports
- Price calculations for funds and certificates
Example: An asset manager documents the value development of customers:internal depots and uses the EoD courses of all depot values.
Note: EoD data are particularly stable and are often archived together with time series for years – a must for compliance and revision.
4. Indications – reliable benchmarks outside the stock exchange
Definition: Indications are prices placed by issuers or market makers, which are not an official exchange rate – but represent an expectable price or sales price.
Areas of application:
- structured products such as certificates
- Exemption trade (OTC)
- Robo-Advisory platforms
- KID/PRIIP documentation
Example: A bank offers its own certificates and displays updated repayment and valuation prices on the market – based on indications.
ARIVA extract: Since the end of 2024, many indications of ARIVA have been provided with official ISINs – a quality seal for reliability and comparability.
Course data are more diverse than many think
From the daily closing course to the millisecond-precise real-time course – each type of course data fulfills a specific purpose. If you want to use this data, you need a partner that offers more than just one data package: technical know-how, connection support, fair license models and a deep understanding of regulatory requirements.
ARIVA.DE AG offers all this:
ʿ Realtime, Delayed, EoD
‡ Indications with ISIN
ʿ Interfaces & APIs
‡ Personal support
You want to know which course data is ideal for your project? Then please contact us customer support@ariva.de. We help you to raise your data base to the next level – fast, stable and safe.
