EP052 – GDC Product Reference

This is a comprehensive product-reference proposal for listed derivatives. It defines how exchanges and clearing entities can distribute instrument definitions and relationships for futures, options on futures, equity options, multileg strategies and option families. It also provides some FX coverage and states that the general market and trading-rule structures can be used for equities and other asset classes.

The business problem is that users need a complete, machine-readable local representation of the instruments offered by a venue and of the rules governing their listing, quoting, trading, clearing, settlement and delivery. The proposal restructures the Security Definition, Derivative Security List and Security List families; adds request and update support by MarketID and MarketSegmentID; introduces derivative-family, strike and maturity structures; and defines reusable trading-rule components for order types, time-in-force, execution instructions, matching, lot sizes, market-data feeds, ticks and price limits.