# Machine-Readable Market State **Entity class:** Markets and data concept ## Definition A **machine-readable market state** is a standardized representation of prices, identities, obligations, eligibility, provenance, risk, reference values, and physical conditions that software can use inside trading, clearing, benchmark, compliance, and settlement workflows. ## Relationships - **market infrastructure:** [[wiki/Intercontinental Exchange|Intercontinental Exchange]], [[wiki/ICE Data Services|ICE Data Services]], and [[wiki/ICE Benchmark Administration|IBA]]. - **physical-world inputs:** [[wiki/ICE Commodity Traceability|ICE CoT]], [[wiki/Space Intelligence|Space Intelligence]], and [[wiki/Computable Provenance|Computable Provenance]]. - **systems frame:** [[wiki/Observation-to-Decision Stack|Observation-to-Decision Stack]]. - **disambiguation route:** [[wiki/ICE|ICE disambiguation]]. ## Sources / Provenance - Editorial synthesis grounded in ICE’s published corporate and ICE CoT architecture.