Data Sources

Overview

Cadenza aggregates data from multiple sources to provide a unified trading experience.

Market Data

Market data is sourced directly from connected exchanges:

Data Type	Source	Update Frequency	Caching
Order Book	Exchange WebSocket	Real-time	None
Instruments	Exchange REST API	On-demand	1 hour
Venues	Cadenza Platform	Static	Permanent

Order Book Data

Order book data is streamed from exchanges in real-time with minimal latency:

• Latency: < 100ms from exchange
• Depth: Configurable (default: 20 levels)
• Updates: Incremental or snapshot based on exchange

Instrument Data

Instrument information is synchronized from exchanges:

• Sync frequency: On-demand via instrument/sync
• Includes: Trading pairs, precision, limits, order types
• Caching: 1 hour TTL

Trading Data

Data Type	Source	Description
Orders	Exchange + Cadenza	Order lifecycle managed by Cadenza
Executions	Exchange	Fills reported by exchange
Portfolio	Exchange + Cadenza	Aggregated balance and positions

Order Lifecycle

┌─────────┐    ┌──────────┐    ┌──────────┐
│ Cadenza │───▶│ Exchange │───▶│ Cadenza  │
│ Submit  │    │ Execute  │    │ Update   │
└─────────┘    └──────────┘    └──────────┘

1. Order submitted to Cadenza
2. Cadenza routes to exchange
3. Exchange executes and reports
4. Cadenza updates order status

Portfolio Data

Portfolio data is synchronized from exchanges and cached:

• Balance updates: Real-time via WebSocket
• Position updates: Real-time via WebSocket
• Full sync: Periodic reconciliation

Data Consistency

Eventual Consistency

Some data may have brief inconsistencies due to network latency:

• Order status may lag execution by < 1 second
• Portfolio balance may lag trades by < 1 second

Reconciliation

Cadenza performs periodic reconciliation:

• Order sync: Every 5 minutes
• Balance sync: Every 1 minute
• Position sync: Every 1 minute

Data Availability

Service	SLA	Failover
Market Data	99.9%	Multi-region
Trading	99.9%	Active-passive
Portfolio	99.9%	Cached fallback