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Merge pull request #2313 from vegaprotocol/spec-refinement
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chore: remove impossible AC, but mention the behaviour in spec
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jeremyletang authored Jul 12, 2024
2 parents f9d5280 + e062893 commit 39bfb8a
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3 changes: 2 additions & 1 deletion protocol/0016-PFUT-product_builtin_future.md
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Expand Up @@ -92,6 +92,8 @@ Validation:
- `fully-collateralised mode` is only allowed when there is a `max_price` specified
- `binary_settlement` is only allowed when there is a `max_price` specified

Note that these fields are not specified on the market update types. Once a capped future is created and set to fully collateralised (and/or binary settlement), it cannot be changed.

## Acceptance Criteria

1. Create a Cash Settled Future with trading termination triggered by a date/time based data source (<a name="0016-PFUT-001" href="#0016-PFUT-001">0016-PFUT-001</a>)
Expand Down Expand Up @@ -125,4 +127,3 @@ Optional parameters:
1. Futures market can be created with a with [hardcoded risk factors](./0018-RSKM-quant_risk_models.ipynb). (<a name="0016-PFUT-026" href="#0016-PFUT-026">0016-PFUT-026</a>)
1. Updating a risk model on a futures market with regular risk model to with [hardcoded risk factors](./0018-RSKM-quant_risk_models.ipynb) results in recalculation of all margin levels in line with hardcoded values and collateral search/release where appropriate. (<a name="0016-PFUT-027" href="#0016-PFUT-027">0016-PFUT-027</a>)
1. Updating a risk model on a futures market with [hardcoded risk factors](./0018-RSKM-quant_risk_models.ipynb) to a regular risk model results in recalculation of all margin levels in line with the specified risk model (hardcoded value are no longer used) and collateral search/release where appropriate. (<a name="0016-PFUT-028" href="#0016-PFUT-028">0016-PFUT-028</a>)
1. It's not possible to modify the `fully-collateralised` flag with a market update transaction. (<a name="0016-PFUT-029" href="#0016-PFUT-029">0016-PFUT-029</a>)
5 changes: 2 additions & 3 deletions protocol/features.json
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Expand Up @@ -622,8 +622,7 @@
"0019-MCAL-157",
"0019-MCAL-158",
"0019-MCAL-170",
"0019-MCAL-171",
"0016-PFUT-029"
"0019-MCAL-171"
]
},
"Model-free alternatives": {
Expand Down Expand Up @@ -820,4 +819,4 @@
"milestone": "unknown",
"acs": []
}
}
}

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