Outcomes and settlement

How is a market’s result determined?

The contract specifications identify the outcome criteria and the source used to determine the result. XV Exchange applies those terms when determining settlement. A news report or unofficial result may not be sufficient to settle a contract.

Where can I see a market’s rules?

Each market has a Rules tab with its contract terms, including the outcome criteria and the result source. Review them before trading.

How much does a contract pay?

The payout depends on the contract specifications. For example, a binary contract with a $1 settlement value normally pays $1 to the qualifying side and $0 to the other side. Special settlement provisions may apply. Read the actual terms rather than assuming every contract pays the same amount.

How do I calculate my profit or loss?

For a simple purchase held to settlement, subtract your purchase cost and applicable fees from the settlement payment. For example, buying 10 contracts at $0.40 costs $4 before fees. If each pays $1, the payment is $10 and the profit is $6 before fees. If each pays $0, the loss is $4 plus fees. This example does not predict an outcome.

When will settlement funds appear?

Settlement occurs according to the contract terms and the STX settlement process. The Clearing House credits applicable member accounts following any applicable holding period. An event ending does not necessarily mean settlement is immediate.

What happens if an event is postponed or canceled?

The contract terms and Rulebook determine the treatment. XV Exchange may adjust the expiration date or take other permitted action. A canceled event does not automatically mean every trade is refunded. Review Exchange notices for the specific market.

What happens if the outcome cannot be determined?

XV Exchange applies the contract terms and Rulebook. Where the outcome cannot be determined and the contingency is not addressed in the terms, the Rulebook permits alternative payout methods, including using the last traded price or a binding determination of fair allocation.

Can trading be halted or contract terms change?

Yes, in circumstances permitted by the Rulebook. XV Exchange may halt trading, adjust certain contract terms, or take emergency action to address disruptions or protect market integrity. Such actions may affect open orders and positions. Review the relevant Exchange notices.