Data Feed Explained

platform

Definition

The real-time market data provider that connects the trading platform to exchange price information. The two dominant feeds in prop firm futures trading are Rithmic and CQG (via Tradovate). Firms typically support one or both. The data feed determines order routing, execution characteristics, and which platforms are compatible.

Explanation

Your data feed choice determines which trading platforms you can use and affects execution speed and reliability. Some prop firms only support one feed type, while others offer both options. The feed handles everything from live price updates to order submission, so connection quality directly impacts your trading performance.

Example

A trader using Rithmic data feed might execute ES futures orders with 50-100ms latency, while the same trader on CQG through Tradovate could see different execution speeds depending on their location and internet connection.

Why It Matters

Your data feed choice limits which platforms you can use and directly affects order execution quality.

Common Misconceptions

  • All data feeds provide identical execution speed and reliability

    Reality: Feed choice significantly impacts latency, connection stability, and available platform options