Market Settlement

See Market Settlement for an overview. Settlement reports are available on KalshiPT sessions by default, unless ReceiveSettlementReports=N (tag 20127) is set during Logon, and on KalshiRT sessions with ReceiveSettlementReports=Y.

Market Settlement Report (35=UMS)

Provides settlement details for a specific market.

Message Structure

Tag	Name	Description	Required
20105	MarketSettlementReportID	Unique settlement identifier	Yes
55	Symbol	Market ticker (e.g., NHIGH-23JAN02-66)	Yes
715	ClearingBusinessDate	Date settlement cleared (YYYYMMDD)	Yes
20106	TotNumMarketSettlementReports	Total number of settlement reports in sequence	No
20107	MarketResult	Result of the market when determined: `yes`, `no`, or `scalar`	Yes
893	LastFragment	Last page indicator (Y/N)	No
730	SettlementPrice	Settlement price of market in cents (2 decimal places, e.g. `30.60`)	Yes

Repeating Groups

Collateral changes and fees are nested inside each NoMarketSettlementPartyIDs entry.

Party Information (NoMarketSettlementPartyIDs)

Tag	Name	Description
20108	NoMarketSettlementPartyIDs	Number of parties
20109	MarketSettlementPartyID	Unique identifier for party
20110	MarketSettlementPartyRole	Type of party (Customer Account<24>)
704	LongQty	Decimal quantity of YES position held
705	ShortQty	Decimal quantity of NO position held

Collateral Changes (NoCollateralAmountChanges)

Tag	Name	Description
1703	NoCollateralAmountChanges	Number of collateral changes (should be only 1 - payout balance change)
1704	CollateralAmountChange	Delta in dollars
1705	CollateralAmountType	`BALANCE` or `PAYOUT`

Fees (NoMiscFees)

Tag	Name	Description
136	NoMiscFees	Number of fee entries (always 1)
137	MiscFeeAmt	Fee amount in dollars (zero when no fee)
138	MiscFeeCurr	Currency (USD)
139	MiscFeeType	Type of fee (Exchange fees<4>)
891	MiscFeeBasis	Unit for fee (Absolute<0>)

Example Settlement Report

// Market settled as "yes", no fees
8=FIXT.1.1|35=UMS|
20105=settle-123|55=HIGHNY-23DEC31|715=20231231|
20107=yes|730=100.00|
20108=1|
  20109=user-456|20110=24|
  704=100|705=0|
  1703=1|
    1704=100.00|1705=PAYOUT|
  136=1|
    137=0.00|138=USD|139=4|891=0|
893=Y|

// Market settled as "yes", with sub-cent rounding fee
8=FIXT.1.1|35=UMS|
20105=settle-456|55=HIGHNY-23DEC31|715=20231231|
20107=yes|730=100.00|
20108=1|
  20109=user-789|20110=24|
  704=100|705=0|
  1703=1|
    1704=100.00|1705=PAYOUT|
  136=1|
    137=0.006|138=USD|139=4|891=0|
893=Y|

The first example shows:

Market HIGHNY-23DEC31 settled as “yes”
User held 100 Yes contracts
Received $100.00 payout to balance
Zero settlement fees

The second example shows:

Same market, different user
$100.00 payout with a$ 0.006 rounding fee

Pagination

Large settlement batches may span multiple messages:

Tag	Use Case
20106	Total number of reports in batch
893	LastFragment=N for more pages, Y for last

Important: The MarketSettlementReportID (tag 20105) will be different across paginated responses. Each page of results generates a new unique settlement ID. Use the Symbol (tag 55) ticker to identify fragments belonging to the same paginated settlement.

REST

CF Benchmarks REST

WebSockets

FIX