To participate in block trades, Participants must meet the following requirements:
After an account is approved for block trading, any Authorized Users that have the Trader role are assigned a Block Trader ID. A Block Trader ID can also be generated on the Block Trades tab. Block Trader IDs are shareable UUIDs used when reporting block trades.
The Bitnomial Block Trade Workflow relies on the concept of a ‘Leader’ and a ‘Follower’. The ’Leader’ is responsible for the initial reporting of the block trade. The ’Follower’ is responsible for confirming accuracy and confirming the block trade once reported by the ’Leader’.
The following steps outline the required workflow to report block trades:
Confirmed
.Accepted
.If the block trade has an Accepted
status, reporting is complete. If Participants experience
issues reporting block trades, they should contact help@exchange.bitnomial.com.
See Block Trade Statuses for more information about the possible states of a block trade.
Rules regarding block trades are found in our Bitnomial Exchange Rulebook under Rule 505.
Pending
: The leader has submitted the trade and is waiting for the follower to confirm.Canceled
: Either party does not agree with the trade as initially reported by the leader.Confirmed
: Confirmation that the Participants have agreed to this trade, but awaiting
acknowledgement from the platform.Rejected
: The platform rejected the submission of the block trade. Participants may resubmit
trades in the Rejected
state.Accepted
: The trade has been accepted by the platform.