Markets and Trading
Understand binary markets, YES-side pricing, order matching, positions, and the order instructions available through UDX.
A market asks a question with a YES or NO result. Trading always uses the YES contract.
Market Structure
| Term | Meaning |
|---|---|
| Series | A group of related markets. |
| Event | The real-world question that resolves YES or NO. |
| Market | The tradable contract and its order book. |
| Contract | The quantity being bought or sold. |
A winning contract settles to $1.00. A losing contract settles to $0.00.
Trade the YES Contract
BUYYES opens or adds to a long position.SELLYES opens or adds to a short position.
There is no separate NO contract. Buying NO at $0.40 is economically equivalent to selling YES at $0.60.
A position is the signed net quantity of YES contracts. Positive is long YES; negative is short YES.
Prices and Quantities
Prices are in dollars and must follow the market’s tick size. Quantities can be as small as 0.01 contracts.
Use decimal strings from the API for price and quantity calculations. Do not convert them to binary floating-point values.
Orders and Trades
An order remains open until it matches, expires, or is canceled. A match creates a trade and updates the account’s position.
See Place an Order for supported order fields and time-in-force values.