Complete Guide to Understanding Market Data Fields

When dealing with data from financial markets especially when working with data from Indian market, it is possible to come across a variety of names for fields and identifiers which could be confusing initially. first glance. Knowing these fields of data is essential for anyone who works in portfolio management, trading or financial analysis. This complete guide will go over every important field define its importance and give practical examples to help make sense of market data.

Why Understanding Market Data Fields Matters

Market data fields form the basis in financial data systems. They offer standard methods to recognize, categorize and monitor financial instruments across various trading platforms and exchanges. When you’re working on trading algorithms or conducting market research or just trying to comprehend your portfolio more thoroughly understanding these definitions of fields are essential information.

1 SEM_EXM_EXCH_ID — Exchange Identification

It is important to note that the Exchange ID field essential to market information since it is the name of the trading platform on which the security is being traded and listed. This is important as the same business could be listed on several exchanges, and prices could differ slightly between them because of different market conditions, liquidity levels and trading volume.

Detailed Examples:

• NSE = National Stock Exchange of India The largest trading exchange of India by market capitalization as well as trading volume
• BSE = Bombay Stock Exchange – One of Asia’s most storied stock exchanges, founded in 1875.
• The MCX means Multi Commodity Exchange – India’s most renowned commodity derivatives exchange
• NCDEX = National Commodity & Derivatives Exchange A different major trader in India

Why it is Important: Different exchanges might have different trading hours, payment procedures, and regulations. Knowing about the exchange will help traders to understand the rules and regulations which apply to their trades.

2 SEM_SEGMENT — Market Segment Classification

The Market Segment field gives details about the particular trade segment or market category in which the instrument trades. This classification aids investors in understanding what the specific nature of an instrument is as well as the trading rules that go with it as well as margin requirements and risk profile.

Comprehensive Examples:

• EQU is Equity Segment Shares and stocks of regular companies
• OPTIDX = Index Options – Option contracts that are based on market indices, such as NIFTY or SENSEX
• FUTSTK is a short form for Stock Futures. contract on individual stocks
• FUTIDX = Index Futures – Future contracts on market indexes
• OptsTK = Stock Options-Option contracts for individual stocks
• CD = Certificate of Deposit – Debt instruments that are short-term instruments
• CSS is a reference to Commercial Paper Notes of promissory unsecured

Trading Implications Each segment has its own margin needs, settlement cycles and the risk characteristics. For instance, the derivatives segment (options as well as futures) generally require larger margins than equity segments.

3 SEM_SMST_SECURITY_ID — Unique Security Identifier

This field has an unique identifier number that is assigned to every security that is stored in an exchange’s database. Consider it the social security number of financial instruments. There is no way that two securities will be identified with the same ID in one exchange platform.

Detailed Examples:

• 12345 Could represent Reliance Industries Limited in NSE’s internal database
• 67890 Could be a reference to Tata Consultancy Services in the same system.
• 11111 = Could get assigned to HDFC Bank

Technical Relevance: This ID is utilized in the trading system’s internal database to ensure rapid detection and to process transactions. Although traders usually employ symbols, backend systems use these numbers as IDs to speed up processing of databases and to prevent confusion that could result from symbols that look similar.

4 SEM_INSTRUMENT_NAME — Instrument Type Classification

This Instrument Name field specifies the basic type or category for the particular financial instrument. It provides an understanding of what you’re trading as well as the right or obligation it has.

Expanded Examples:

• OPTIDX = Index Options – Contracts giving the right to purchase/sell the index for a certain price
• FUTSTK is a stock futures term. Contracts to buy or sell stocks at the future date
• FUTIDX = Index Futures – Agreements to buy or sell market indices at an unspecified date in the future.
• OptsTK (stock options) : Rights purchase/sell individual stocks at set prices
• QUALITY = Regular stocks that signify the ownership of companies
• BONDS = Debt instruments issued by governments or corporations
• ETF = Exchange Traded Funds (ETF) – Investment funds that trade on exchanges for stocks

The characteristics of risk and return Every type of instrument has distinct returns, risk profiles and market behaviours. Knowing these distinctions is essential to a proper portfolio management and risk evaluation.

5 SEM_EXPIRY_CODE — Expiry Date Encoding

When it comes to derivatives (options or futures) The Expiry Code is the expiration date of the contract in a standard coded format. This field is crucial for trading derivatives as it determines the date on which the contract is due to be exercised or settled.

Format Examples:

• 20240814 = 14th August 2024 (YYYYMMDD format)
• 20241226 = 26th December 2024
• 20240328 = 28th March 2024 (quarterly expiry)

Types of Expiry: The different instruments are subject to distinct expiry dates. Futures and index options typically expire on the fourth Thursday of every month, whereas options on stocks could have quarterly or monthly expiry dates. Understanding these patterns aids in the development of trading strategies in managing the position.

6 SEM_TRADING_SYMBOL — Official Trading Symbol

It is the Trading Symbol is the common identification utilized across the various trading systems and platforms to signify an instrument. The symbol encodes information on the asset being traded such as expiry date, strike price, and type.

Detailed Symbol Breakdown:

• NIFTY24AUG24000CE breaks down into:
  • NIFTY = Index that is underlying
  • 24 = Year 2024
  • August = Month of expiry (August)
  • 24000 = Strike price (24,000)
  • "CE" is a.k.a Call European option
• RELIANCE24DECFUT breaks down into:
  • RELIANCE = Stocks that are underlying
  • 24DEC = December 2024 expiration
  • FUT = Futures contract

symbol conventions: Each exchange follows specific namestamp conventions. Knowing these patterns allows traders to quickly identify the characteristics of instruments by observing the symbol.

7 SEM_LOT_UNITS — Lot Size Specification

This Lot Units field specifies the minimum quantity of units which must be sold in a single deal. This ensures an orderly market and guarantees adequate size contracts for participation by institutions.

Practical Examples:

• NIFTY Index Options: 75 units per lot
• Bank NIFTY Options: 15 units per lot
• Most Stock Futures: company-specific size of lots (e.g. 250 shares for certain companies 500 shares for other companies, 500 for all other companies)
• The Equity Cash Market Typically 1 unit (can purchase individual shares)

financial impact: Sizes of lots directly influence the capital requirements to trade. A NIFTY option of 100 Rs with 75 lot sizes requires Rs7500 as the premium (excluding margins to sell).

8 SEM_CUSTOM_SYMBOL — User-Defined Identification

Custom Symbols enable institutions and traders to design unique identification codes for instruments which make them simpler to recall and use in their own analysis or trading systems.

Customization Examples:

• Official: RELIANCEINDUSTRIES-EQ – Custom: RIL-EQ
• Official: TATACONSULTANCYSERVICES-EQ – Custom: TCS-EQ
• Official: HDFCBANK-EQ – Custom: HDFC-EQ
• Official: NIFTY24AUG24000CE – Custom: NIFTY_AUG24_24000_CALL

Benefits of the System: Custom symbols are particularly beneficial in trading algorithms and portfolio management software and research databases in which short, intuitive names enhance efficiency and reduce mistakes.

9 SEM_EXPIRY_DATE — Human-Readable Expiry Date

Although the Expiry Code offers a machine-readable format but it’s the Expiry Date field provides information about the dates of the contract’s expiration in a format simple to understand by human users.

Format Examples:

• 14-AUG-2024 = 14th August 2024
• 26-DEC-2024 = 26th December 2024
• 28-MAR-2025 = 28th March 2025

strategic importance: The expiry date is essential in time-sensitive strategies. Options lose value when they get closer to expiration (time decay) as well as futures contracts require cash settlement or physical delivery upon expiration. Traders should be aware of these dates in order to avoid unintentional potential positions or miss opportunities.

SEM_STRIKE — Strike Price Definition

A Strike Price refers to the fixed price at the point an option is exercised. The price is fixed at the time the contract for option is made and is maintained for the duration of the contract.

Strategic Examples:

• “NIFTY” 24000 Call Option: The right to purchase NIFTY at 24,000, regardless of market prices
• The RELIANCE Put Option 2500 The right to offer RELIANCE for Rs2,500 per share
• BANK NIFTY 45000 Call Option: Right to buy BANK NIFTY at 45,000

Pricing Relationship This relationship that exists between the price of the option and present market value determines if it is “in-the-money,” “at-the-money,” or “out-of-the-money,” which directly influences the value of the option as well as its trading strategy.

Advanced Market Data Concepts

Time Decay and Greeks

Understanding the way that options decrease in value in time (theta decline) as well as how they react to changes in the underlying price (delta) and volatility (vega) and the interest rate (rho) is essential for the success of derivatives trading.

Volume and Open Interest

While they aren’t covered in the standard list can provide insight into the liquidity of markets and sentiment among traders. The high volume suggests that traders are active, and a the rising interest in open positions suggests new opportunities are being created.

Bid-Ask Spreads

This difference, which is the most expensive cost buyers will accept (bid) as well as the price that buyers are prepared to pay (ask) shows the liquidity of the market and also trading costs.

Practical Applications

Portfolio Management

Utilize these fields to classify investment options, track deadlines for expiry, estimate positions by comparing lot units and keep track of exchange-specific risks.

Risk Management

Understanding the types of instruments such as expiry dates, the sizes of lots can help in calculating the maximum losses that could be incurred in addition to margin requirements and limits on position.

Trading Strategy Development

Different instruments require different approaches. Strategies for equity differ from options strategies, and every exchange may have its own characteristics that affect the effectiveness of strategies.

Compliance and Reporting

A proper classification of these fields guarantees accuracy in regulatory reporting and also assists in ensuring compliance with different regulations for trading and positions.

A thorough knowledge of the various fields of market data is the base to a successful trading and investment administration within Indian market. No matter if you’re a beginner trying to learn the basics of trading or an experienced trader who has developed advanced strategies, these definitions of fields give you the necessary vocabulary to navigate the complicated world that is the world of finance.

Get Latest Price – LTP

Fetches the most recent traded price of a stock, index, or option at this moment.

data = tsl.get_ltp_data(names=['CRUDEOIL', 'NIFTY'])
crudeoil_ltp = data['CRUDEOIL']

Get Full Quote Data

Gives the complete live details of a security, including LTP, bid/ask prices, volume, and other market info.

data = tsl.get_quote_data(names=['CRUDEOIL', 'NIFTY'])
crudeoil_quote_data = data['CRUDEOIL'] #Full current detail

Get OHLC Data

Shows the Open, High, Low, and Close prices for a stock or instrument in a g

data = tsl.get_ohlc_data(names=['CRUDEOIL', 'NIFTY'])
crudeoil_ohlc_data = data['CRUDEOIL']

Get Historical Data

Provides past price and volume data for a stock or instrument over days, weeks, months, or years.

data = tsl.get_historical_data(tradingsymbol='NIFTY', exchange='NSE', timeframe="DAY")   
data = tsl.get_historical_data(tradingsymbol='ACC', exchange='NSE', timeframe="1")

📌 Use “1”, “5”, “15” for minutes or “DAY” for daily candles.

ATM, OTM, and ITM Strike Selection

Helps choose option strike prices:

• ATM = At The Money (strike price close to current market price)
• OTM = Out of The Money (strike price away from market price)
• ITM = In The Money (strike price already profitable if exercised now)

ATM Example:

CE_symbol_name, PE_symbol_name, strike_price = tsl.ATM_Strike_Selection(Underlying='NIFTY', Expiry=0)

OTM Example:

CE_symbol_name, PE_symbol_name, CE_OTM_price, PE_OTM_price = tsl.OTM_Strike_Selection(Underlying='NIFTY', Expiry=0, OTM_count=5)

ITM Example:

CE_symbol_name, PE_symbol_name, CE_ITM_price, PE_ITM_price = tsl.ITM_Strike_Selection(Underlying='NIFTY', Expiry=0, ITM_count=1)

Get Option Greeks

Calculates risk and sensitivity values (Delta, Gamma, Theta, Vega) that show how an option’s price might change with market movements.

all_values = tsl.get_option_greek(
    strike=24400, expiry=0, asset='NIFTY',
    interest_rate=10, flag='all_val', scrip_type='CE'
)

✅ With these definitions and functions, you can retrieve, analyze, and process market data effectively for automated trading, analytics, or strategy building.