Trading Mechanism

Overview of the Zeta trading mechanism
Trading functions using an underlying central limit order book for each market / underlying asset.
Each market or underlying can be either a Call, Put, Future, or Perpetual, and is indexed between 0 and 137 to differentiate between market types for that particular asset.

Options and Dated Futures

The first 23 markets (0 - 22) for each underlying asset are reserved for Options and Dated Futures of one expiry (0-10: Calls, 11-22: Puts, 23: Dated Future).
The next 23 markets (23 - 45) follow the same format but are for a different expiry.
Zeta reuses the same markets as expiries rollover. The expiries work in a circular buffer fashion. On expiration, the set of 23 markets will expire in the week following the next expiry. You can use utils.displayState() to see which expiry a particular index is referencing at any time.
Each expiration has 23 markets:
Index (0 indexed)
Dated Future

Perpetual Futures

The index for a Perpetual Future of an underlying will always be 137.
Markets 46 - 136 are left blank intentionally.

Placing Orders

On an insert order instruction, the public key for the underlying market for that particular product, as well as the price, size and side of the order must be passed in.
Supported order types:
  • Good till cancelled – Default, currently available.
  • IOC – Coming Soon
  • FAK – Coming Soon
Tick sizes
Orders can only be placed with a minimum tick size on insert. For orders which are below the minimum increment value, they will be rejected.
Minimum price fluctuation for all contracts - 0.0001
Tick sizes
Minimum trade lot size for all contracts - 0.001