API Flows

Strategy Created

Paradigm creates Strategies, comprised of one or more Instruments.

1. Subscribed to strategy_state.{venue}.{kind} WS Channel.
2. Receives WS messages with state == ACTIVE.

Strategy Settled

Upon a Strategy Instrument’s expiration, the underlying venue settles the contract.

1. Subscribed to strategy_state.{venue}.{kind} WS Channel.
2. Receives WS messages with state == SETTLED.

Strategy Expired

Paradigm may choose to expire a Strategy from being available to trade.

1. Subscribed to strategy_state.{venue}.{kind} WS Channel.
2. Receives WS messages with state == EXPIRED.

End to End Trade

For a Trade to occur, two Orders must cross upon a Strategy’s Order Book.

From the WS Channel orders.{venue}.{kind}.{strategy_id}, the state key indicates if the Order has reached finality. If state == OPEN, then the Order still has available amount which can be actioned by the creator or another user. If state == CLOSED, the Order no longer has any actions available by the creator or another user. If state == CLOSED, the Order will be either canceled, pending clearing & settlement on the underlying venue or has already reached finality at clearing.

You should closely follow the values from the following keys amount, pending_fill_amount, filled_amount, canceled_amount.

User’s Order State

1. Subscribed to orders.{venue}.{kind}.{strategy_id} WS Channel.
2. Taker submits a crossing Order and receives WS message with state == OPEN.
3. If the Order is consumed in entirety, the user(s) receives a message with state == CLOSED.

User’s Trade State

1. Subscribed to trades.{venue}.{kind}.{strategy_id} WS Channel.
2. An executed Trade reaches finality after clearing & settlement on the underlying exchange. Receives a WS Message with state == FILLED for successfully cleared trades, state == REJECTED for unsuccessful trade clearing.