Real-time Market Data is defined as prices that:

• A. update in real time on the trader's desktop
• B. are only for closing sessions
• C. are delayed by 15 minutes
• D. reflect only historical time series

Answer: (A)

Real-time market data means prices update immediately as market activity happens, giving you the current view of quotes and trades. This timeliness lets you make timely decisions and place orders based on the latest information. The option that describes prices updating in real time on the trader’s desktop captures this immediate, live update aspect, which is what real-time data provides. The other descriptions describe data that is not current: data only for closing sessions is end-of-day data; being delayed by 15 minutes introduces a lag; and reflecting only historical time series refers to past data without any live updates.