This standard establishes a system designed to trade data through domain-independent and principled marketplaces operating under a unified architecture. It defines terminology, a reference model, and the roles and functions of data providers, users, and marketplaces. The standard provides an overview of the data-trading system using its reference model. This standard provides the foundation for a data-trading system that allows multilateral exchanges of data. New IEEE Standard - Active. A standard is defined for setting up and operationalizing a data-trading system (DTS) to trade data through a domain-independent and principled marketplace under a unified architecture. Definitions and specifications for stakeholders, relevant external entities, and objects; definitions of the reference model, trading terms, functional and non-functional requirements to operate a DTS; and an overview of the data trading via the DTS are provided. These are foundational for operationalizing a data-trading system that allows data trading among multiple stakeholders.