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What is your instrument code convention?

Overview

At Seed CX, each instrument represents a distinct tradable pair of assets. The instrument code is a unique identifier for the instrument, and can, at a glance, tell you the key characteristics of what is being traded. The instrument code is tag 55 in our FIX API specification.

Instrument names consist of up to six distinct components:

  1. Asset Class
  2. Product Type
  3. Tradable Pair
  4. Expiration Date
  5. Option Type (depending on Product Type)
  6. Strike (depending on Product Type)

These components are then grouped together in the following manner:

Asset Class + Product Type : Tradable Pair : Expiration: Option Type : Strike

Component Breakdown

Asset Class

This follows the NFA Swap Product Matrix used in CFTC Part 16.01 reporting. Currently Seed CX only supports commodities as underlying assets.

Asset Class Code
Commodities CO
Equity  EQ
Foreign Exchange FX 

Product Type

This follows the NFA Swap Product Matrix used in CFTC Part 16.01 reporting. Currently Seed CX only supports spot product types.

Product Code
Spot SP
Swap S
Forward F
Option O

Tradable Pair

All Seed CX-supported instruments will be a pair of two assets - the underlying and the quoted. See supported assets for a list of supported assets and their codes.

Expiration Date

Products will use the expiration date as the expiry code, in the following format YYYYMMDD.

Example: 20190601 would infer an expiration date of June 1st, 2019.

Option Type

If the instrument is an option, the Instrument Name should include a code that references the specific type of option. 

Option Type Code
Put PUT
Call CALL

Strike

If there is a strike price, include it at the end of the Instrument Name.

  • The unit for a strike is 'K'.
  • The strike value will be determined by the product specification sheet, where minimum increments will be clearly stated.
  • Be sure to include all significant figures, i.e. if the strike price increases in increments of $0.05, then the strike of $0.10 should be written as K0.10

Example: An option with a strike of $0.01 should be stated as 'K0.01'.

Examples

Example Interpreted
COSP:BTC/USD Bitcoin USD Spot
COF:BTC/USD:20190601 Bitcoin USD Forward expiring on June 1st, 2019
COO:BTC/USD:20190601:CALL:K10000 Bitcoin USD Call Option expiring on June 1st, 2019 with a Strike Price of $10,000