Derivatives Changelog

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2026-Jul-17

• SBE Order Entry: Rolling gateway deploys are now seamless. During a planned deploy, SBE Order Entry sessions remain connected and resting orders are preserved with their original priority (cancel-on-disconnect is not triggered). See Rolling Deploys.

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2026-Jun-26

• FIX Market Data: Added block trade market data (see Block Trades):
  • Added SubscriptionRequestType (263) value 3 (UPDATES_ON_BLOCKS) to subscribe to block trade events and block trade session volume via MarketDataIncrementalRefresh (35=X)
  • Added TrdType (828) to trade entries: 0 (Regular Trade) and 1 (Block Trade)
  • Added MDEntryType (269) value u (Trading Session Block Trade Volume)
• FIX Drop Copy: Block trade execution reports are now disseminated to the firm’s subscribed Drop Copy sessions, reported as Trade (150=F), Trade Correction (150=G), and Trade Cancel (150=H). See Block Trades.

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2026-May-14

• FIX Drop Copy: Added support for execId based replay:
  • EventResendRequest (35=F3): Client request to resend order events in a specified range.
  • EventResendComplete (35=F4): System response to successful F3 request.
  • EventResendReject (35=F5): System response to unsuccessful F3 request.

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2026-Apr-24

• Public REST API: Added TAS block trade documentation updates:
  • POST /rest/block-trade/new now documents TAS booking with tas_sub_type=TAS and tick_differential
  • GET /rest/block-trade and POST /rest/block-trade now document TAS response fields is_tas_order, tick_differential, and effective_price

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2026-Apr-27

• Added TAS (Trade at Settlement) fields to Block Trade responses in the Public REST API:
  • is_tas_order - Boolean indicating whether the block trade is a TAS order
  • tick_differential - The price differential in ticks for TAS orders
  • price_differential - The price differential as a decimal value for TAS orders
  • effective_price - The effective price of the block trade

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2026-Mar-9

• UDP Market Data and SBE Order Entry: Marked HaltReason/haltReason as optional across instrument snapshot and status messages. The field is absent (null value = 255) when no halt reason applies.
• SBE Order Entry: Added new InstrumentStatus enum value TRADING_PAUSE (7) to distinguish a trading pause from a full trading halt (TRADING_HALT = 4)

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2026-Mar-6

• Added HaltReason field across Market Data and Order Entry APIs:
  • FIX Security Definitions:
    • Added HaltReason (327) to SecurityDefinition (35=d) and SecurityList (35=y)
  • UDP Market Data:
    • Added HaltReason to TradingStatusUpdate, StartOfOutrightInstrumentSnapshot, StartOfSpreadInstrumentSnapshot, and StartOfOptionInstrumentSnapshot
  • SBE Order Entry:
    • Added haltReason to InstrumentInfo

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2026-Feb-20

• Added block trade endpoints to the Public REST API:
  • Block Trades
    • GET /rest/block-trade - Get all block trades where user owns the reporting firm/entity
    • POST /rest/block-trade - Get filtered block trades matching specified filter criteria
    • POST /rest/block-trade/new - Book a new block trade between two parties
  • Block Trade Booking
    • GET /rest/block-trade/booking/bookable-accounts - Get block trade accounts the user can book trades for
    • GET /rest/block-trade/booking/bookable-entities - Get block trade entities the user can book trades for
    • GET /rest/block-trade/booking/bookable-traders - Get block traders the user can book trades for
  • Block Trade Accounts
    • GET /rest/block-trade-accounts - Get all block trade accounts
    • GET /rest/block-trade-accounts/{uuid} - Get a specific block trade account
  • Block Trade Account Permissions
    • GET /rest/block-trade-account-permissions - Get all block trade account permissions
    • GET /rest/block-trade-account-permissions/{uuid} - Get a specific block trade account permission
  • Block Trade Entities
    • GET /rest/block-trade-entities - Get all block trade entities
    • GET /rest/block-trade-entities/{uuid} - Get a specific block trade entity
  • Block Trade Position Limits
    • GET /rest/block-trade-position-limits - Get all block trade position limits
    • GET /rest/block-trade-position-limits/{uuid} - Get a specific block trade position limit
  • Block Traders
    • GET /rest/block-traders - Get all block traders
    • GET /rest/block-traders/{uuid} - Get a specific block trader

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2026-Feb-03

• Removed deprecated v1 positions endpoints from the Public REST API:
  • GET /rest/positions - Use GET /rest/v2/positions instead
  • GET /rest/positions/{firm_uuid} - Use GET /rest/v2/positions/{firm_uuid} instead

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2026-Jan-26

• Added instrument related endpoints to the Public REST API with optional filtering:
  • Get Instrument Details
    • POST /rest/instruments - Get all instruments and their details
    • This endpoint accepts an optional request body for filtering, can be omitted to get all instruments

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2025-Dec-05

• Added v2 endpoints to the Public REST API with enhanced position tracking and limit management:
  • Positions V2
    • GET /rest/v2/positions - Get all firm positions with daily and real position tracking
    • GET /rest/v2/positions/{firm_uuid} - Get firm position for a specific firm
    • Added support for separate long/short initial margins
    • Added daily and real positions
    • Added product-level position tracking with product_positions map
  • Firm Position Limits V2
    • GET /rest/v2/firm-position-limits - List all position limits with daily and real limits
    • GET /rest/v2/firm-position-limits/{firm_uuid} - Get firm position limits for a specific firm
    • POST /rest/v2/firm-position-limits/{firm_uuid} - Update firm position limits
    • Added separate long_daily_limit, short_daily_limit, long_real_limit, and short_real_limit fields
  • Firm Product Limits V2
    • GET /rest/v2/firm-product-limit/{firm_uuid} - Get firm product limits with enhanced limit details
    • POST /rest/v2/firm-product-limit - Set firm product limit
    • POST /rest/v2/firm-product-limit/batch - Batch set firm product limits for multiple products
    • POST /rest/v2/firm-product-limit/remove - Remove firm product limit
    • POST /rest/v2/firm-product-limit/batch-remove - Batch remove firm product limits for multiple products
    • Added trading24x7_disabled flag and daily/real position limits per product
  • Firm Product Group Limits V2
    • GET /rest/v2/firm-product-group-limit/{firm_uuid} - Get firm product group limits with product limit details
    • POST /rest/v2/firm-product-group-limit - Create zero firm product group limit
    • POST /rest/v2/firm-product-group-limit/remove - Remove firm product group limit

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2025-NOV-17

• (To Ship on Dec 5) Adds explicit firm/ITM override support so FIX order entry can target alternative ITM.
  • FIX Order Entry
    • Added the override Parties block for override firm and ITM
  • FIX Drop Copy
    • Expanded the Parties group to include the CLIENT_ID party, shows the ITM used (default or override).

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2025-AUG-01

• Added Public REST API docs, and updated connectivity information, REST API.

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2025-JUL-01

• Added support for US Perp Style Futures (PSF) Market Data APIs:
  • FIX Market Data:
    • Added conditional MD Refresh tags: MDEntryDate (272) and MDEntryTime (273) for Funding Time messages
    • Added new MDEntryType (269) enum values: t (Funding Time), k (Final Mark Price), f (Final Funding Rate), m (Mark Price), p (Predicted Funding Rate), s (Spot Mark Price), v (Fair Value)
  • FIX Security Definitions:
    • Added conditional tags: FundingRateApplicable (9001), FundingInterval (9002), and FairValueLimit (9003)
  • UDP Market Data:
    • Added new FundingRate (43) message
    • Added fundingIntervalMinutes and fairValueLimit fields to OutrightInstrumentDefinition and StartOfOutrightInstrumentSnapshot
    • Added fundingRateApplicable flag to InstrumentDefinitionFlags
    • Added seven new fields to EndOfSnapshot: FinalFundingRate, FinalFuturesMarkPrice, FinalFundingRateTimestamp, FuturesMarkPrice, PredictedFundingRate, SpotMarkPrice, and FairValue
  • All changes apply only to PSF products - non-PSF futures products are not impacted

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2025-JUN-06

• Added support for replacing OCO orders to FIX 4.4, Order Cancel/Replace Request (35=G).
• Updated cde-fix44-xml-dictionaries-latest.zip for download.

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2025-APR-04

• Effective Friday, April 04, 2025, and going forward, the weekly sequence number reset will move up to every Friday at 16:05 CT.

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2025-JAN-31

• Added UUIDv4 support for ClOrdID (tag 11) on FIX Order Entry

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2024-SEP-13

• Removed support for MDPriceLevel (tag 1023) from FIX Market Data
• Removed support for MaxShow (tag 210) from FIX Order Entry and FIX Copy

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2024-JUL-15

• Added support for OCO (one-cancels-the-other) orders to FIX 4.4, New Order Single (35=D). OCO orders combine the features of limit and stop orders (and CDE treats them as a single order, not two linked ones). OCO orders let users set predefined limit and stop levels simultaneously depending on their view of the market. Initially, an OCO order acts like a regular limit order, contributing to market data. When its stop price condition is met, it shifts and behaves like a stop limit order.

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2024-JUN-21

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FIX Diffs since the last available downloads

121,122d120
<             <field name="TrdType" required="N"/>
<             <field name="ExecInst" required="N"/>
177,179d174
<         <field number="18" name="ExecInst" type="MULTIPLEVALUESTRING">
<             <value enum="6" description="POST_ONLY"/>
<         </field>
390,391d384
<             <value enum="30" description="BROKERAGE_FIRM"/>
<             <value enum="36" description="ENTERING_BROKERAGE_FIRM_TRADER"/>
393d385
<             <value enum="99" description="BROKER_CODE"/>
424,426d415
<         <field number="828" name="TrdType" type="INT">
<             <value enum="1" description="BLOCK_TRADE"/>
<         </field>

119d118
<                 <field name="TrdType" required="N"/>
400c399
<             <value enum="1" description="SNAPSHOT_PLUS_UPDATES_ON_FUTURES"/>
---
>             <value enum="1" description="SNAPSHOT_PLUS_UPDATES"/>
402d400
<             <value enum="3" description="UPDATES_ON_BLOCKS"/>
578,580d575
<         <field number="828" name="TrdType" type="INT">
<                 <value enum="1" description="BLOCK_TRADE"/>
<         </field>

120d119
<             <field name="ExecInst" required="N"/>
173d171
<             <field name="ExecInst" required="N"/>
327c325,364
<             <value enum="6" description="POST_ONLY"/>
---
>             <value enum="1" description="NOT_HELD"/>
>             <value enum="2" description="WORK"/>
>             <value enum="3" description="GO_ALONG"/>
>             <value enum="4" description="OVER_THE_DAY"/>
>             <value enum="5" description="HELD"/>
>             <value enum="6" description="PARTICIPATE_DONT_INITIATE"/>
>             <value enum="7" description="STRICT_SCALE"/>
>             <value enum="8" description="TRY_TO_SCALE"/>
>             <value enum="9" description="STAY_ON_BIDSIDE"/>
>             <value enum="0" description="STAY_ON_OFFERSIDE"/>
>             <value enum="A" description="NO_CROSS"/>
>             <value enum="B" description="OK_TO_CROSS"/>
>             <value enum="C" description="CALL_FIRST"/>
>             <value enum="D" description="PERCENT_OF_VOLUME"/>
>             <value enum="E" description="DO_NOT_INCREASE"/>
>             <value enum="F" description="DO_NOT_REDUCE"/>
>             <value enum="G" description="ALL_OR_NONE"/>
>             <value enum="H" description="REINSTATE_ON_SYSTEM_FAILURE"/>
>             <value enum="I" description="INSTITUTIONS_ONLY"/>
>             <value enum="J" description="REINSTATE_ON_TRADING_HALT"/>
>             <value enum="K" description="CANCEL_ON_TRADING_HALT"/>
>             <value enum="L" description="LAST_PEG"/>
>             <value enum="M" description="MID_PRICE_PEG"/>
>             <value enum="N" description="NON_NEGOTIABLE"/>
>             <value enum="O" description="OPENING_PEG"/>
>             <value enum="P" description="MARKET_PEG"/>
>             <value enum="Q" description="CANCEL_ON_SYSTEM_FAILURE"/>
>             <value enum="R" description="PRIMARY_PEG"/>
>             <value enum="S" description="SUSPEND"/>
>             <value enum="U" description="CUSTOMER_DISPLAY_INSTRUCTION"/>
>             <value enum="V" description="NETTING"/>
>             <value enum="W" description="PEG_TO_VWAP"/>
>             <value enum="X" description="TRADE_ALONG"/>
>             <value enum="Y" description="TRY_TO_STOP"/>
>             <value enum="Z" description="CANCEL_IF_NOT_BEST"/>
>             <value enum="a" description="TRAILING_STOP_PEG"/>
>             <value enum="b" description="STRICT_LIMIT"/>
>             <value enum="c" description="IGNORE_PRICE_VALIDITY_CHECKS"/>
>             <value enum="d" description="PEG_TO_LIMIT_PRICE"/>
>             <value enum="e" description="WORK_TO_TARGET_STRATEGY"/>

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SBE Diffs since the last available downloads

6,7c6,7
<                    version="7"
<                    semanticVersion="4.6"
---
>                    version="6"
>                    semanticVersion="3.4"
108,110d107
<         <set name="NewOrderFlags" encodingType="uint8">
<             <choice name="postOnly">0</choice>
<         </set>
164c161
<         <field name="flags"                          id="7" type="NewOrderFlags" sinceVersion="7"/>
---
>         <field name="padding"                        id="7" type="int8" sinceVersion="5"/>

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2024-APR-09

• Replaced SBE NewOrder padding with flags where 1 = Post Only

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2024-MAR-29

• Trade (150=F)
• New/Canceled/Replaced Order (35=8, 150=0/4/5)
• Rejected Order (150=8)

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2024-FEB-28

• New Order Single (35=D)
• Execution Report (35=8)
• Rejected Order (35=8, 150=8)
• Trade (35=8, 150=F)

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2023-NOV-06

• Added Block Trade support to the Drop Copy API. For block trades, TrdType is set to 1 (828=1). For all other trade types, TrdType is null. For more, see Block Trades.

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2023-OCT-31

• Public preview of the Coinbase Derivatives Exchange FIX, SBE, and UDP APIS.