# 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

> **CAUTION: Use marketStatus, not timestamps**
>
> Always use <code>marketStatus</code> to determine whether a market is open. Do <strong>not</strong> use{" "}
> <code>observationsTimestamp</code>, <code>lastSeenTimestampNs</code>, or other timestamp fields — timestamps indicate
> when data was last recorded, not whether the market is currently active.

The v11 schema defines six numeric values (`0`–`5`), but **the values that appear on a given feed depend on its trading-hours model**. Check which mapping applies to your stream before implementing logic. For full trading schedules, see [Market Hours](/data-streams/market-hours).

#### Standard-hours feeds

Used by [APAC Equities](/data-streams/rwa-streams/apac-equities) and any v11 feed without 24/5 extended hours.

| Value | Status      | Used?  | Description                                                                                     |
| ----- | ----------- | ------ | ----------------------------------------------------------------------------------------------- |
| `0`   | **Unknown** | Yes    | Market status cannot be determined                                                              |
| `1`   | N/A         | **No** | Not mapped. Do not treat as Closed or Pre-market.                                               |
| `2`   | **Open**    | Yes    | Market is open during a regular trading session                                                 |
| `3`   | N/A         | **No** | Not mapped. Do not treat as Post-market.                                                        |
| `4`   | N/A         | **No** | Not mapped. Do not treat as Overnight.                                                          |
| `5`   | **Closed**  | Yes    | Market is closed (outside trading hours, lunch breaks, closing auctions, weekends, or holidays) |

> **CAUTION**
>
> Values <code>1</code>, <code>3</code>, and <code>4</code> are reserved for 24/5 session types and **will not appear**
> on these feeds. On standard-hours feeds, <code>5</code> covers intraday closures such as lunch breaks and closing
> auctions — not only weekends and holidays.

During closing auction periods and daily lunch breaks on APAC exchanges, `marketStatus` is `5` (Closed) even though the exchange trading day has not fully ended. See [Market Hours (APAC Equities)](/data-streams/market-hours#apac-equities) for session schedules.

#### 24/5 US Equities feeds

Used by [24/5 US Equities](/data-streams/rwa-streams/24-5-us-equities-user-guide) streams with extended and overnight sessions.

| Value | Status            | Hours (ET)                            | Description                                                                            |
| ----- | ----------------- | ------------------------------------- | -------------------------------------------------------------------------------------- |
| `0`   | **Unknown**       | N/A                                   | 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**        | N/A                                   | Market closed (weekends, holidays, or unexpected closures; \~8:00pm Fri–8:00pm Sun ET) |

Implement appropriate safeguards based on market status — such as pausing trading, adjusting risk parameters, or adding staleness checks during non-regular or closed periods. See [Best Practices](/data-streams/concepts/best-practices#market-hours) for guidance.

### 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.