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OCX presents a single public entry point — the API gateway — in front of the matching engines and market-data services. You always call the gateway; it authenticates your request and routes it to the right venue. This keeps one base URL, one auth model, and one streaming contract across every product.

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System overview

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The pieces

API gateway

The single public endpoint. Verifies your session or API key, applies rate limits, and proxies both REST and long-lived streams to the engines.

Matching engines

A perpetuals/futures engine and a central limit order-book engine for options and spot. Both match on price–time priority and support GTC, IOC, and FOK.

Market data

Institutional-grade reference data, consumed in real time, feeds the index, mark, and volatility-surface pipelines.

Pricing & marks

OCX computes its own index/mark prices, funding, and a fitted option volatility surface. See Methodology.

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Order books and matching

Orders rest on a central limit order book per market and match on price–time priority. Every order supports a time-in-force: postOnly rejects an order that would take liquidity (keeping you on the maker side); reduceOnly prevents an order from increasing your position. Multi-leg option strategies execute all-or-none.

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Market data and pricing

OCX prices every listed product against institutional-grade reference data from the underlying derivatives markets. From that source, OCX derives perpetual index and mark prices, the funding rate, dated-futures fair value, and a fitted implied-volatility surface for options. These are OCX’s published marks — used for reference and risk. The tradable prices are always the live order book.
Marks and IV are informational; you always trade against the order book. For a conceptual walk-through of each pricing pipeline, see the Methodology section.

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The API surface

Two request styles cover everything you do:
Request/response over HTTPS with JSON bodies. Used for market-data reads, placing and cancelling orders, quoting, and account queries.
Public market data needs no credentials. Trading and account endpoints require an authenticated session or an API key — see Authentication.