What Are the Challenges in Normalizing Contract Specifications (E.g. Expiry Formats) across Exchanges?
Exchanges use non-standardized symbols (e.g. BTC-PERP vs.
BTCUSD-SWAP) and different formats for expiry dates (e.g. YYYYMMDD vs.
YYMMDD). Normalization must handle these inconsistencies to create a unified product identifier.
Furthermore, differences in tick size, contract size, and margin calculation rules also require mapping and standardization. Incorrect normalization leads to pricing errors and failed trade executions.