Fair price (pooled across venues)
A single reference price computed by pooling quotes from several venues, so one venue's glitch does not set it.
The fair price is a single reference value for an asset, calculated by pooling quotes and trades from several venues. Pooling reduces the weight of any one exchange, so a stale quote, a thin order book or a brief outage on one venue does not move the figure on its own. It is meant to answer what the asset is worth across the market now, not what the last trade printed.
On our site, the fair price is shown as the headline price with the number of venues that contributed. A low contributor count means the figure is less robust, and we flag it.
Traders care because they often trade on several venues and need one number to compare against. A fair price helps spot a venue that is out of line with the rest.
Worked example (illustrative numbers, not real data): five venues quote 50,010, 50,020, 50,030, 50,040 and 51,900. The last one is far off and thin. The pooled median is 50,030, which ignores the outlier, while a simple average would be pulled up to 50,400.