Derivatives

The Derivatives entitlements allow onboarded entities (Persons or Corporates) to upgrade their account capabilities to trade derivative products.

There are three distinct levels of derivative access, each with specific eligibility criteria and regulatory requirements.

---

Entitlement Variants

Below are the available derivative entitlements. You must use the Name to find the specific entitlement_id via the Listing endpoints.

Name	Applies To	Prerequisites	Outcome
professional_by_birth	Corporate	1. Created: Entity exists. 2. Onboarded: KYB workflow successfully completed.	Standard: Entitlement either approved or rejected.
professional_by_request	Person, Corporate	1. Created: Entity exists. 2. Onboarded: KYC/KYB workflow successfully completed.	Standard: Entitlement either approved or rejected.
qualified_retail	Person, Corporate	1. Created: Entity exists. 2. Onboarded: KYC/KYB workflow successfully completed.	Locked: Account is approved or rejected. Note: Rejection will trigger a mandatory lock-up period (1 month or 6 months).

Handling IDs

While the Name (e.g., professional_by_request) is the same for both Persons and Corporates, the UUID will differ. Always fetch the correct ID from the appropriate endpoint (/entitlements/persons or /entitlements/corporates) before triggering.

---

High-Level Workflow

The Derivatives process follows the standard Entitlement Trigger Flow.

The primary flow sequence is: Ensure Onboarding Complete → Trigger Entitlement → Complete Requirements (Questionnaires) → Receive Final Status.

Flow Specifics

1. Verification: Ensure the entity has already passed the standard Onboarding (KYC/KYB) entitlement.

   • Check: GET /persons/{id}/entitlement_triggers (look for successful onboarding).

2. Trigger: Initiate the workflow using the specific entitlement name (e.g., qualified_retail).

   • POST /persons/{id}/entitlement_triggers or POST /corporates/{id}/entitlement_triggers
   • Body: {"entitlement_id": "..."}

3. Requirements Loop: The system issues requirementsQuestionnaire webhooks.

   • Common requirements include the Appropriateness Test or Economic Profile updates.
   • Your application must fetch these questionnaires, collect answers, and submit responses.

4. Completion: The workflow concludes with a entitlementCompleted or entitlementFailed webhook.