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:
- Asset Class
- Product Type
- Tradable Pair
- Expiration Date
- Option Type (depending on Product Type)
- 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
This follows the NFA Swap Product Matrix used in CFTC Part 16.01 reporting. Currently Seed CX only supports commodities as underlying assets.
This follows the NFA Swap Product Matrix used in CFTC Part 16.01 reporting. Currently Seed CX only supports spot product types.
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.
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.
If the instrument is an option, the Instrument Name should include a code that references the specific type of option.
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'.
|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|