# Level 3 (L3) Market Data (MBO) by Databento — Data Product Intelligence

> Source: Vedex (https://vedex.ai) — Alternative Data Vendor Intelligence
> Generated: 2026-10-05T12:15:30.207Z
> Canonical: https://vedex.ai/products/level-3-l3-market-data-mbo-86a598

## Overview
- **Product**: Level 3 (L3) Market Data (MBO)
- **Vendor**: Databento
- **Description**: Market by order (MBO) data providing granular order-level transparency.
- **Use Cases**: market microstructure research, high-frequency trading analysis
- **Source Platform**: discovery

## Coverage & Delivery
- **Geographic Coverage**: US
- **Update Frequency**: real-time
- **Delivery Methods**: API
- **Data Format**: API
- **Has API**: Yes

## Pricing
- **Free**: No
- **Estimated Annual Price**: ~$2,268/yr (Vedex estimate — not a vendor-published price)

### Pricing Tiers
| Tier | Price | Billing | Annualized | Type | Confidence | Source |
|------|-------|---------|------------|------|------------|--------|
| Vedex estimate | ~$2,148 | ANNUAL | ~$2,148/yr | SUBSCRIPTION | MEDIUM | Vedex estimate |

## Quality Scores
- **Value Score**: 44.7
- **Coverage Score**: 43
- **Trial Accessibility**: 35

## Vendor Information
- **Vendor**: Databento
- **Website**: https://www.databento.com
- **Headquarters**: Boston, MA
- **Vendor Profile**: https://vedex.ai/vendor/databento-8e1293/llms.txt

## Source
- **Platform**: discovery
- **Listing URL**: https://www.databento.com/products/level-3-l3-market-data-mbo

## Links
- Vedex Product Page: https://vedex.ai/products/level-3-l3-market-data-mbo-86a598
- Vendor Profile: https://vedex.ai/vendor/databento-8e1293
- All Products: https://vedex.ai/products