Market Data for Stocks
Last updated December 30, 2025
As Coinrule supports different stock trading platforms, it is important to understand possible price differences between the same stock offered through different trading platforms.
Stock market data may come from different underlying sources such as IEX (The Investors Exchange) and the SIP (Securities Information Processor) market data feed which is a consolidated, real-time stream of U.S. equity market datafeeds.
Why can prices differ between brokers or platforms?
Prices may vary slightly depending on which price type and market data source a broker or exchange chooses to display.
For every instrument, there are three distinct prices:
- Bid – the price at which you can sell
- Ask – the price at which you can buy
- Last Trade (Trade Price) – the price of the most recent executed trade
If two platforms display the same price type (for example, the Ask price) and source their data from the same primary exchange, prices should be effectively identical.
However, differences can occur when:
A platform displays Last Trade Price instead of Bid or Ask
Market data is sourced from different exchanges or liquidity venues
- Secondary or alternative exchanges are used, which may have slightly different liquidity and spreads
As a result, Bid, Ask, and Trade prices may not always perfectly align across platforms.
Important note
Some platforms and charts display only the Last Trade Price. This price is informational and may differ slightly from the actual Bid or Ask price at which an order is executed.
Pros
- Reflects real market conditions across multiple venues
- Encourages competition between exchanges and liquidity providers
- Often results in tighter spreads on high-liquidity platforms
Cons
- Can be confusing when comparing prices across platforms
- Small price differences may appear during fast market moves
- Last Trade Price can be misleading for execution expectations
Practical takeaway: Minor price differences are normal in live markets and are usually the result of different price references or data sources — not an error or malfunction.