# Report Schema: RWA Advanced (v11)
Source: https://docs.chain.link/data-streams/reference/report-schema-v11

> For the complete documentation index, see [llms.txt](/llms.txt).

import { Aside } from "@components"

<ReportSchemaTabs />

Chainlink Data Streams that use the RWA Advanced (v11) schema adhere to the structure outlined below.

## Schema Fields

### Market Status Values

The `marketStatus` field indicates the current state of the market. The possible values vary depending on the stream's supported trading hours:

#### Standard RWA Streams

For streams with standard market hours coverage. Unless a feed explicitly states extended hours support, it is assumed to follow this format:

| Value | Status      | Description                        |
| ----- | ----------- | ---------------------------------- |
| `0`   | **Unknown** | Market status cannot be determined |
| `1`   | **Closed**  | Market is closed                   |
| `2`   | **Open**    | Market is open                     |

#### 24/5 US Equities Streams

For streams with 24/5 extended hours coverage (e.g., US Equities):

| Value | Status            | Normal Hours (ET)                     | Description                                                |
| ----- | ----------------- | ------------------------------------- | ---------------------------------------------------------- |
| `0`   | **Unknown**       | —                                     | Market status cannot be determined                         |
| `1`   | **Pre-market**    | 4:00am–9:30am Mon–Fri                 | Extended hours before regular trading session              |
| `2`   | **Regular hours** | 9:30am–4:00pm Mon–Fri                 | Primary trading session with highest liquidity             |
| `3`   | **Post-market**   | 4:00pm–8:00pm Mon–Fri                 | Extended hours after regular trading session               |
| `4`   | **Overnight**     | 8:00pm–4:00am Sun evening–Fri morning | Overnight session with limited liquidity                   |
| `5`   | **Closed**        | —                                     | Market closed (weekends, holidays, or unexpected closures) |

Users should implement appropriate safeguards based on market status, such as pausing trading, adjusting risk parameters, or implementing staleness checks during non-regular hours or closed periods.

> **CAUTION: Use marketStatus for Stream Selection**
>
> The `marketStatus` field is the authoritative signal for determining market availability and selecting which stream to
> consume. Do not use `observationsTimestamp`, `lastSeenTimestampNs`, or any other timestamp field to infer whether a
> market is open or to decide which stream to use. Timestamps reflect when data was last recorded, not the current state
> of the market.

> **NOTE: Handling Unknown and Closed Status**
>
> Consumers should implement logic to handle market status `0` (Unknown) and market status `5` (Closed), as these
> periods imply no active feed and require a decision on fallback behavior (e.g., using a tokenized price, pausing the
> market, etc.).

### Notes

#### Last Seen Timestamp

- `lastSeenTimestampNs` helps applications detect stale data for the mid price, especially important during market transitions and holidays.
- **IMPORTANT**: The `lastSeenTimestampNs` field reflects the timestamp of the last update for the `mid` price only. Do not assume this timestamp applies to `bid`, `ask`, `bidVolume`, `askVolume`, or `lastTradedPrice`. Different fields may have been updated at different times.
- **Do not use `lastSeenTimestampNs` (or any other timestamp field) to determine which stream to select or to infer whether the market is open.** Timestamps indicate when data was last recorded, not whether the market is currently active. Use the `marketStatus` field as the authoritative signal for market availability and stream selection.

#### Bid/Ask Volume

For U.S. equities, there is no single consolidated order book. Instead, multiple venues each maintain their own order books. Because data providers source from different markets, the `bidVolume` and `askVolume` reported at each update come from one specific order book at a time, not an aggregate across all venues.

As a result, these volume fields should not be treated as a proxy for total market liquidity at the top of book. They are informational and not especially representative in fragmented markets like U.S. equities.

#### Additional Notes

- Future streams using this format may adopt different report schemas as needed.
- Data availability and sourcing vary by session. Liquidity is typically highest during regular hours and lower during extended and overnight sessions.