Market Data Feeds

Updated 8 Jun 2026 Reviewed by 7wData

Publisher review

Kaiko is a digital asset market data provider that delivers institutional-grade data feeds, analytics, indices, and monitoring solutions for financial institutions, asset managers, and crypto-native enterprises. It serves over 200 enterprise clients worldwide, offering reference data, Level 1 and Level 2 market data, and a suite of analytics modules including Kaiko Best Execution, Kaiko Fair Market Value, Kaiko Portfolio & Risk Management, and Kaiko Derivatives Risk Indicators. The platform is designed for firms that require high-quality, reliable pricing data for trading, risk management, and benchmarking, with a focus on compliance and transparency. Kaiko's data infrastructure supports 24/7 coverage and follow-the-sun support, making it suitable for global operations that demand continuous data availability.

Kaiko aggregates data from multiple exchanges and institutional sources, including a recent integration with Bruce Markets' after-hours ATS to enhance its equity Reference Rates for overnight markets. The platform provides data through multiple delivery mechanisms: WebSocket, REST, FIX, and JSON-RPC, as well as cloud and on-site server deployments. Its indices are BMR-compliant and powered by enterprise-grade data, with reference rates that combine equity data from various institutional sources into a single rate. Kaiko also offers monitoring solutions like Kaiko Market Surveyor, Kaiko Market Explorer, and Kaiko Blockchain Monitoring, which track market activity and blockchain transactions. Historical data availability starts from October 2024, which may limit backtesting for longer timeframes.

In the market data feed space, Kaiko competes with providers like CoinAPI, which integrates 380+ exchanges and offers Level 3 order book data and tick-by-tick trades. Kaiko's public materials emphasize Level 1 and Level 2 snapshots, with less highlighted order-level granularity. While CoinAPI provides a broader exchange count and deeper order book detail, Kaiko differentiates through its analytics suite, BMR-compliant indices, and focus on institutional pricing infrastructure. Kaiko's partnership with Bruce Markets and its unified infrastructure for indices and reference rates position it as a strong choice for firms needing compliant benchmark prices and comprehensive analytics, rather than raw tick data.

The key trade-offs with Kaiko include limited historical data (starting October 2024), which restricts long-term backtesting, and less transparent pricing that requires custom enterprise quotes. The platform's emphasis on Level 1 and Level 2 data may not satisfy firms needing per-order book detail. Additionally, Kaiko's exchange count appears lower than some competitors, potentially reducing coverage breadth. However, for clients prioritizing regulatory compliance, analytics, and reliable reference rates, Kaiko offers a robust, enterprise-focused solution with 24/7 support and multiple data delivery options.

How it works

Reference Data

Provides standardized identifiers, exchange asset databases, and derivatives contract details for accurate instrument identification.
Level 1 & Level 2 Data

Offers top-of-book quotes and aggregated order book snapshots via WebSocket, REST, FIX, and JSON-RPC protocols.
Analytics Modules

Includes Kaiko Best Execution, Fair Market Value, Portfolio & Risk Management, and Derivatives Risk Indicators for advanced analysis.
Monitoring Solutions

Delivers Kaiko Market Surveyor, Market Explorer, and Blockchain Monitoring to track market activity and on-chain data.
BMR-Compliant Indices

Offers benchmark reference rates and multi-asset indices that comply with EU Benchmarks Regulation for institutional use.
Multiple Delivery Channels

Supports data delivery via APIs, cloud, and on-site servers with WebSocket, REST, FIX, and JSON-RPC protocols.
24/7 Coverage and Support

Maintains round-the-clock data feeds and follow-the-sun support for global enterprise clients.

Strengths and trade-offs

Strengths

Provides BMR-compliant benchmark reference rates that meet EU regulatory standards for institutional pricing.
Integrates Bruce Markets' after-hours ATS data into equity Reference Rates for accurate overnight market pricing.
Offers a comprehensive analytics suite including Best Execution, Fair Market Value, and Derivatives Risk Indicators.
Supports 24/7 data coverage with follow-the-sun support and multiple delivery protocols (WebSocket, REST, FIX, JSON-RPC).

Trade-offs

Historical data availability starts only from October 2024, limiting long-term backtesting and analysis.
Pricing is not publicly disclosed and requires custom enterprise quotes, reducing transparency for potential buyers.
Order-level granularity (Level 3 data) is not highlighted in public materials, unlike some competitors.
Exchange count appears lower than rivals like CoinAPI, which integrates 380+ exchanges, potentially reducing coverage breadth.

Pricing context

Pricing is less publicly disclosed; enterprise/custom quotes are typical based on number of assets, data type, granularity, and usage. Contact Kaiko for a quote.

Getting started with Market Data Feeds

Request enterprise access

Contact Kaiko's sales team through their website to request a custom enterprise quote. Provide details about your required assets, data types, and usage volume to receive a tailored pricing proposal and access credentials.
Set up API credentials

After receiving your account details, configure your environment with the provided API keys. Choose your preferred delivery protocol from WebSocket, REST, FIX, or JSON-RPC, and set up secure connections to Kaiko's endpoints.
Configure data subscriptions

Select the specific data feeds you need, such as Level 1 quotes, Level 2 order book snapshots, or analytics modules like Best Execution. Define the assets, exchanges, and update frequency to match your trading or risk management requirements.
Load reference data

Download Kaiko's reference data, including standardized identifiers and exchange asset databases, to map instruments correctly. Integrate this data into your internal systems to ensure accurate instrument identification for all downstream processes.
Verify data delivery

Run a test connection to confirm data is streaming correctly via your chosen protocol. Validate a sample of quotes and order book snapshots against known market conditions, and check that 24/7 coverage and support are active for your region.

Frequently Asked Questions

What is Kaiko Market Data Feeds?

Kaiko Market Data Feeds delivers institutional-grade digital asset data for financial institutions and crypto enterprises. It offers reference data, Level 1 and Level 2 market data, analytics modules, and BMR-compliant indices via WebSocket, REST, FIX, and JSON-RPC protocols.

What types of data does Kaiko provide?

Kaiko provides reference data, Level 1 top-of-book quotes, and Level 2 aggregated order book snapshots. It also offers analytics modules like Best Execution and Fair Market Value, plus monitoring solutions for market activity and blockchain transactions.

How does Kaiko compare with CoinAPI?

CoinAPI integrates over 380 exchanges and offers Level 3 order book data, while Kaiko focuses on Level 1 and Level 2 snapshots with fewer exchanges. Kaiko differentiates through BMR-compliant indices and a comprehensive analytics suite for institutional pricing needs.

Is Kaiko data compliant with EU regulations?

Yes, Kaiko's indices are BMR-compliant, meeting EU Benchmarks Regulation standards. Its reference rates combine equity data from institutional sources into a single rate, making it suitable for firms requiring compliant benchmark prices for trading and risk management.

What are the limitations of Kaiko's historical data?

Kaiko's historical data starts from October 2024, which restricts long-term backtesting and analysis. This may be a drawback for firms needing extensive historical records for strategy development or performance evaluation over extended periods.

How can I access Kaiko's market data?

Kaiko delivers data via WebSocket, REST, FIX, and JSON-RPC protocols, as well as cloud and on-site server deployments. It offers 24/7 coverage with follow-the-sun support. Pricing requires a custom enterprise quote based on assets and usage.

Alternatives

How Market Data Feeds compares

Direct head-to-head against 3 competitors. Picked by 7wData.

Pricing: Pricing is less publicly disclosed; enterprise/custom quotes are typical based on number of assets, data type, granularity, and usage. Contact Kaiko for a quote.
Target: Kaiko is a digital asset market data provider that delivers institutional-grade data feeds, analytics, indices, and monitoring solutions for financial institutions, asset managers, and crypto-native
Strength: Provides BMR-compliant benchmark reference rates that meet EU regulatory standards for institutional pricing.
Watch for: Historical data availability starts only from October 2024, limiting long-term backtesting and analysis.

Pricing: Custom/Contact sales
Target: High-frequency traders needing Nasdaq/NYSE depth
Deployment: Direct exchange feeds
Strength: Ultra-low latency order book visualization
Watch for: Exchange licensing fees apply

Pricing: Custom/Contact sales
Target: Brokers requiring multi-asset coverage
Deployment: FIX API, MT4/5
Strength: 350+ instruments with synthetic asset support
Watch for: Focus on CFD/B-book use cases

Pricing: $29-$249/month for real-time APIs
Target: Developers building retail trading apps
Deployment: REST/WebSocket APIs
Strength: Free tier with Python SDK
Watch for: 15ms+ latency vs direct feeds

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Sources

Reporting on this tool draws on these publicly available sources.

Market Data Feeds

On this page

Publisher review

How it works

Reference Data

Level 1 & Level 2 Data

Analytics Modules

Monitoring Solutions

BMR-Compliant Indices

Multiple Delivery Channels

24/7 Coverage and Support