Consolidated Market Data
The combined stream of quotes and trades from all US exchanges (the consolidated tape), as opposed to a single exchange's feed. Strategies tested and run on consolidated data see the market's true best prices and full volume — one of the quiet details that separates realistic simulation from optimistic simulation.
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Related terms
BacktestingSimulating a strategy's rules against historical market data to estima…LiquidityHow much of an asset can be traded quickly without moving its price. D…
Backtests are hypothetical, computed by DeployQuant's engine on minute-resolution consolidated US market data (2021-01-04 to 2026-07-17, $10,000 starting capital, no margin, fees and slippage not modeled) and do not guarantee future results. Nothing on this page is investment advice. Live trading involves risk of loss.