Databento

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Feature	Databento
STOA Rating	8.0
Description	Market data API platform giving you real-time and historical data across equities, futures, and options—direct from colocation sites with nanosecond timestamps.
Strengths	•Direct colocation feeds with 590-microsecond median latency—unusually fast for an API-based service •Broad schema coverage including full L3 order book, PCAPs, and corporate actions reference data •Self-service licensing removes the typical broker/vendor friction for exchange data •19 petabytes of historical data going back up to 16+ years across asset classes •Supports three systems languages (Python, C++, Rust) making it usable from quant research to production trading
Weaknesses	•Exchange license fees are pass-through and add significant cost on top of subscription prices •Plus and Unlimited tiers require annual contracts, limiting flexibility for smaller teams •Spot FX not yet available, limiting coverage for multi-asset strategies •Usage-based live data access is being deprecated on some datasets, reducing pay-as-you-go flexibility
Key Features	•Real-time streaming and up to 16+ years of historical data •Covers equities, futures, and options across major exchanges •Python, C++, and Rust client libraries with Pandas optimization •Nanosecond PTP timestamps from NY4, FR2, and Aurora I colos •Full order book depth: MBO/L3, MBP-10/L2, trades, OHLCV schemas •Usage-based or flat-rate subscription pricing options
Pricing	From $179/mo
Best For	All industries
AI Features	None
Categories	Understand Your NumbersBuild & Connect
STOA Verdict	If your team needs institutional-grade market data without negotiating directly with exchanges, Databento gives you a clean API path to deep order book history and real-time feeds at competitive prices. The $179/month Standard plan is a solid entry point for small quant teams, though you should budget for exchange license fees on top. It's best suited for firms that already know what data schemas they need and want to move fast.
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Databento

8.0

Market data API platform giving you real-time and historical data across equities, futures, and options—direct from colocation sites with nanosecond timestamps.

Strengths

•Direct colocation feeds with 590-microsecond median latency—unusually fast for an API-based service
•Broad schema coverage including full L3 order book, PCAPs, and corporate actions reference data
•Self-service licensing removes the typical broker/vendor friction for exchange data
•19 petabytes of historical data going back up to 16+ years across asset classes
•Supports three systems languages (Python, C++, Rust) making it usable from quant research to production trading

Weaknesses

•Exchange license fees are pass-through and add significant cost on top of subscription prices
•Plus and Unlimited tiers require annual contracts, limiting flexibility for smaller teams
•

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Databento

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