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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.

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