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Event Contract Integration Guidance

This guide provides comprehensive documentation for integrating Event Contracts into your platform via the Webull Broker API.

Overview of Event Contracts​

Event Contracts are a unique type of financial derivative that allows traders to speculate on the binary outcome of specific real-world events (e.g., "Will the Fed raise rates in July?"). Webull provides FDIBs (Fully Disclosed Introducing Broker) the capability to integrate these innovative products into their own branded platforms.

Core Product Mechanics​

Core terminology used in event trading​

The following should hold true for events that make up a series:

  • Category: A category is a broader classification that groups related series together.
  • Series: A series is a collection of related events.
  • Event: An event is a collection of markets and the basic unit that members should interact with on Kalshi.
  • Market: A market represents a specific binary outcome within an event that users can trade on (e.g., “Will candidate X win?”). Markets have yes/no positions, current prices, volume, and settlement rules.

Webull can provide several categories for event trading that include but are not limited to: Economics, Financials, Sports, Crypto, Politics and more.

Each contract is structured around a clearly defined, verifiable event:

  • Binary Outcome: A contract has only two possible settlement outcomes: "Yes" (the event occurs) or "No" (the event does not occur), corresponding to a settlement price of $1.00 or $0.00, respectively.

  • Expiration & Settlement: Upon official determination of the event outcome, the contract settles automatically. Clients holding positions in the correct direction receive the corresponding payout.

Key Features​

  • API-Driven Trading: All contract discovery, order management, and settlement are executed via the standard Broker API, ensuring a consistent experience across equities, options, event trading, and beyond.

  • Defined Risk Profile: The client's maximum potential profit and loss are established at the time of trade execution.

  • Broad Topic Coverage: Event Contracts can be made available across a wide-range of categories.

  • Enhanced Client Engagement: Provides clients with a direct tool to express views on future outcomes, effectively increasing platform activity and retention.

Trading and Order Management​

Event Contract trading features a streamlined process with straightforward order types.

Market Hours​

  • Trading Hours: Contracts are typically open for trading continuously until the official outcome-determining process for the underlying event begins. Trading hours vary by contract type. Hourly event contracts are generally available from 8 AM to 4 PM EST, while Fed rate event contracts typically trade from 8 AM to 11 PM EST. Hours may be updated as new contracts are introduced. Cryptocurrency event contracts are not subject to these typical trading hours and may trade outside the windows listed above. Note: Webull may adjust the trading hours for specific Contracts without notification.

  • Settlement Period: When an event enters its official counting or announcement phase, trading is halted, and the contract enters the settlement process. New orders cannot be placed, and existing orders cannot be modified during this period.

Order Management​

  • Placing Orders: Orders are submitted via the API. Currently, limit orders with a "day" time-in-force are supported.

  • Order Status: The order status flow (e.g., Pending, Submitted, filled) clearly outlining the lifecycle and status of the order.

  • Order Cancellations: Orders that are not yet filled can be canceled up until the contract's trading cutoff time.

Order Size and Pricing​

  • Contract Multiplier: Each contract represents one minimum trading unit. Clients can buy or sell multiple contracts.Note: For some high-volume markets, contract quantities can be fractional (down to 0.01 contracts), as a result, whole-number orders may receive fractional fills.

  • Order Size:

    • Maximum Order Amounts: $50,000
    • Maximum Order Quantity: 500,000 Contracts

  • Price Range: Contract prices trade strictly between $0.01 and $0.99, reflecting the market's assessed probability of the event occurring.Note: For some markets,prices can have sub-cent precision (down to $0.0001).

Event Contracts API Reference​

Event Contracts are introduced as a new asset class, with API endpoint designs maintaining high consistency with the existing Broker API.

Market Data APIs​

Market Data APIs​

List Available Event Contracts

List Event Series: Retrieve multiple series using specified filters. A series represents a template for recurring events that follow the same format and rules (e.g., “Monthly Jobs Report” ). This endpoint allows you to browse and discover available series templates by category.

List Event Instruments: Retrieve profile information for event contract markets based on the series symbol.

Trading APIs​

Event Contracts utilize the same core order management endpoints as equities, ensuring API uniformity.

Create an Order

Replace an Order

Cancel an Order

Get Order History

Trade Events​

Subscribe to the gRPC stream to receive real-time order status updates (e.g., fills). for detail, please refer the Event Contract Events

Settlement, Custody & Compliance​

Settlement Process​

  1. Trading Halt: Trading ceases at the pre-defined "stop_trading_time".
  2. Outcome Determination: The Exchange determines the outcome based on the contract's pre-defined, authoritative source (e.g., government agency announcement, exchange data).
  3. Automatic Settlement: The system automatically settles all open positions at $1.00 (Yes) or $0.00 (No). Settlement proceeds are immediately credited to the client's available balance.
  4. Record Generation: Following settlement, corresponding records are made available via SOD file.

Compliance & Disclosures​

  • Customer Agreements: It is recommended to include specific risk disclosures for Event Contract trading in your customer agreements.

  • Suitability: While no special accreditation is required, clients should be informed that this is a high-risk investment where they can lose their entire principal.

Risk Disclosures:

Trading Event Contracts is highly speculative, and clients can lose their entire investment. These contracts expire worthless after the event outcome is determined, and market liquidity may vary. Investors should thoroughly understand the product mechanics and invest cautiously according to their financial situation and risk tolerance.

The content of this guide is for informational purposes only and is subject to change. Financial services are provided by Webull Futures LLC and other relevant licensed entities. This does not constitute an offer or solicitation in any jurisdiction where it is unauthorized.