v1.223.0

# NautilusTrader 1.223.0 Beta

Released on 21st February 2026 (UTC).

### Enhancements
- Added `bulk_read_batch_size` option to `CacheConfig` for batched Redis bulk reads, thanks @shzhng
- Added sandbox execution adapter in Rust
- Added multi-account execution support (#3194), thanks @faysou
- Added Nasdaq ITCH 5.0 parser
- Added grid market maker example strategy in Rust
- Added `OrderBookDeltas` historical request support (#3438), thanks @faysou
- Added `market_exit()` method for `Strategy` with configurable `market_exit_time_in_force` and `market_exit_reduce_only` options (supports venues requiring IOC for market orders)
- Added `manage_stop` config option to `StrategyConfig` for automatic market exit on stop
- Added matching engine `queue_position` tracking heuristic for backtests
- Added matching engine trade consumption seeding for L2/L3 book backtests
- Added tracing subscriber for external Rust library logs (`use_tracing=True` in `LoggingConfig`, filter with `RUST_LOG` env var)
- Added `use_market_order_acks` venue config option to generate `OrderAccepted` events for market orders before filling (mimics behavior of venues like Binance)
- Added `oto_trigger_mode` venue config option to control whether OTO child orders activate on partial fills (PARTIAL) or only after full fill (FULL) (default PARTIAL) (#3454), thanks @godnight10061
- Added `request_funding_rates` and `FundingRateUpdate` Arrow serialization (#3467), thanks @dxwil
- Added `optimize_file_loading` as BacktestDataConfig parameter (#3518), thanks @faysou
- Added `bulk_read_batch_size` option to `CacheConfig` for batched Redis bulk reads (#3535), thanks @shzhng
- Added `PerpetualContract` instrument for asset-class agnostic perpetual swaps
- Added Ichimoku Cloud indicator (#3552), thanks @faysou
- Added Betfair RCM parsing for TPD race data
- Added Betfair race stream subscription via `subscribe_race_data` config
- Added Betfair market version price protection for orders
- Added Betfair `BetfairOrderVoided` custom data type for VAR voids
- Added `BetfairOrderVoided` custom data type for VAR voids
- Added Binance `BinanceEnvironment` enum with `LIVE`, `TESTNET`, `DEMO` variants for explicit environment selection
- Added Binance `environment` config field to `BinanceDataClientConfig` and `BinanceExecClientConfig`
- Added Binance Demo environment support with `BINANCE_DEMO_API_KEY`/`BINANCE_DEMO_API_SECRET` env vars
- Added BitMEX trailing stop support
- Added BitMEX pegged order (BBO) support via params
- Added Bybit mark price subscriptions support
- Added Bybit index price subscriptions support
- Added Databento bulk subscription and historical request support (#3490), thanks @shzhng
- Added Databento support for conversion of OPRA venues (#3605), thanks @faysou
- Added Interactive Brokers subscribe index price functionality (#3514), thanks @Murph24
- Added Interactive Brokers `TotalCashValue` to account summary `info` dict, exposing actual cash balance (#3567), thanks @shzhng
- Added Interactive Brokers `request_timeout_secs` config to `InteractiveBrokersExecClientConfig` and consolidated all IB request timeouts into a single configurable value (#3602), thanks @shzhng
- Added OKX batch cancel support for conditional (algo) orders
- Added Polymarket data loader event-level API support (#3484), thanks @jsemldonado
- Added Polymarket `event_slug_builder` support (#3501), thanks @jsemldonado
- Added Polymarket batch order support (#3506), thanks @loafer-19
- Added Tardis data client with factory in Rust
- Improved tearsheet with dynamic Nautilus version and refined run info table (#3396), thanks @KaulSe

### Breaking Changes
- Removed dYdX v3 (legacy) Python adapter (the v3 exchange was decommissioned at end of 2024)
- Removed `dydx` optional install extra (the v4 Rust-backed adapter has no additional Python dependencies)
- Renamed `nautilus_trader.adapters.dydx_v4` module to `nautilus_trader.adapters.dydx` and standardized class names to `Dydx` prefix (e.g. `DydxDataClientConfig`, `DydxLiveDataClientFactory`)
- Removed dead `subscribe_order_book_snapshots` and `unsubscribe_order_book_snapshots` methods from `LiveMarketDataClient` (were never called by the data engine)
- Removed OKX URL environment variable overrides (`OKX_BASE_URL_HTTP`, `OKX_BASE_URL_WS_*`, `OKX_DEMO_BASE_URL_WS_*`); use config `base_url_*` fields instead
- Removed deprecated `get_ws_base_url` function from OKX Rust adapter; use `get_ws_base_url_private` or `get_ws_base_url_public` instead
- Removed `AddAssign`, `SubAssign`, `MulAssign` trait implementations from `Price`, `Quantity`, and `Money` types (Rust); use `x = x + y` instead of `x += y`
- Removed `add_assign` and `sub_assign` cdef methods from `Price`, `Quantity`, and `Money` types (Cython); use `x = x + y` instead
- Renamed `subscribed_order_book_snapshots` to `subscribed_order_book_depth` for consistency with data engine routing
- Removed `listen_key_ping_max_failures` from `BinanceExecClientConfig` (listenKey flow replaced by WebSocket API)
- Changed `Price`, `Quantity`, and `Money` arithmetic to use max precision instead of panicking on precision mismatch
- Changed `Quantity + Quantity`, `Quantity - Quantity`, `Price + Price`, `Price - Price`, `Money + Money`, and `Money - Money` Python operators to return the same type instead of `Decimal` (`Quantity - Quantity` raises `ValueError` if result would be negative)
- Changed `trade_execution` default from `False` to `True` for consistency with `bar_execution`; users who want to isolate execution to L1 book data only must now explicitly set `trade_execution=False`
- Changed price-protected market orders to no longer emit `OrderAccepted` by default; set `use_market_order_acks=True` to restore previous behavior
- Changed adapter implementations should now override `_subscribe_order_book_depth` and `_unsubscribe_order_book_depth` for `OrderBookDepth10` subscriptions
- Changed Binance execution clients now use WebSocket API authentication instead of listenKey REST API; both HMAC and Ed25519 keys are auto-detected from the `api_secret` format (no `key_type` config needed). Note: Futures with HMAC keys automatically fall back to REST listenKey management (Binance Futures WS API only supports Ed25519 for `session.logon`)
- Changed Binance execution clients now source credentials from the standard `BINANCE_API_KEY`/`BINANCE_API_SECRET` environment variables (or testnet equivalents)
- Changed Polymarket instrument provider config from `instrument_provider` to `instrument_config` on `PolymarketDataClientConfig` and `PolymarketExecClientConfig`; use `PolymarketInstrumentProviderConfig` instead of `InstrumentProviderConfig`

### Security
- Upgraded `arc-swap` to 1.8.1 fixing potential use-after-free in debt mechanism (memory ordering fix)
- Fixed `CVec::empty()` to use dangling pointer instead of null, avoiding undefined behavior in `Vec::from_raw_parts`
- Fixed credential and auth header leaks in trace logging
- Masked Binance listen keys in execution client logs
- Refactored supply chain security checks and update dependencies
- Improved TLS cert loading and socket suffix validation
- Hardened Postgres SQL and credential security

### Fixes
- Fixed matching engine liquidity consumption using cumulative book quantity
- Fixed matching engine liquidity consumption tracking for MAKER fills
- Fixed matching engine trade execution fills discarded with `liquidity_consumption`
- Fixed matching engine trade execution fill model and FOK/IOC handling
- Fixed matching engine trade ticks updating L1 book and triggering fills when `trade_execution=False`
- Fixed matching engine MAKER limit orders over-filling on L1 books when `liquidity_consumption=True`
- Fixed inverse instrument `base_currency` access across accounting
- Fixed logic and control flow bugs in core platform (#3585), thanks for reporting @pandashark
- Fixed cache reset and missing f-string prefixes (#3585), thanks for reporting @pandashark
- Fixed missing raise and divide-by-zero guards (#3598), thanks @pandashark
- Fixed account balance rounding mismatch for zero-precision currencies (#3579), thanks for reporting @penguinwokrs
- Fixed `Position` spot base currency commission sign (#3546), thanks for reporting @gaye746560359
- Fixed `Position` flat detection for floating-point edge cases
- Fixed `UnsubscribeInstrumentClose` message handler routing
- Fixed order cancel not releasing locked balance in backtest (#3525), thanks for reporting @dennisnissle
- Fixed remaining `F_LAST` flag checks to use proper bitmask comparison
- Fixed `MarketIfTouchedOrder` (MIT) filling at bar extremes instead of trigger price during backtesting (#3461, #3462), thanks @HaakonFlaaronning
- Fixed OTO child order sizing with rapid parent fills (#3435), thanks for reporting @dxwil
- Fixed `ExecAlgorithm` spawn quantity accounting (will now restore quantity from denied/rejected spawned orders)
- Fixed `GreeksCalculator` to use index price for index instruments (#3541), thanks @shzhng
- Fixed `GreeksCalculator` min->max DTE clamping (#3582), thanks @pandashark
- Fixed `itm_prob` calculation to use N(d2) instead of normalized delta (#3554), thanks @shzhng
- Fixed reconciliation `venue_order_id` indexing and validation
- Fixed analyzer epoch timestamp from empty shell positions
- Fixed backtest clock monotonicity with time alerts (#3384), thanks @draphi
- Fixed order updated panic during reconciliation (#3380), thanks for reporting @santivazq
- Fixed missing currency registration when adding instruments to cache (#3400), thanks @filipmacek
- Fixed trailing stops default price type (#3379), thanks @KaulSe
- Fixed typo in `OrderBook.simulate_fills` error message (#3405), thanks @Johnkhk
- Fixed registering msgbus with OptionExerciseModule (#3383), thanks @davidsblom
- Fixed directory URI handling in ParquetDataCatalog for S3 and cloud storage (#3378), thanks @KaulSe
- Fixed instrument cache race condition during `LiveNode` (Rust) startup (#3385), thanks @filipmacek
- Fixed quickstart MACD strategy logic (#3377), thanks for reporting @SisyphusCoin
- Fixed value bar aggregators emitting zero-volume bars (#3608), thanks for reporting @ggianfran
- Fixed reconciliation race condition where inferred fills were generated before real fills arrived, causing double-counting and overfill errors
- Fixed reconciliation timing (for v2 Rust) - process instruments before reconciliation (#3415), thanks @filipmacek
- Fixed `request_order_book_snapshot` and add Bybit support (#3416), thanks @dxwil
- Fixed Arrow serialization encoding for custom Nautilus types (#3515), thanks @dennisnissle
- Fixed cache loading when flush_on_start set to True (#3551), thanks @HaakonFlaaronning
- Fixed Redis cache buffer flushing during idle periods (#3426), thanks for reporting @santivazq
- Fixed Redis cache flush no-op and harden close lifecycle
- Fixed Betfair dropped fills from premature cache update
- Fixed Betfair duplicate cancel event race condition(s)
- Fixed Betfair stream batch handling and modify/cancel edge cases
- Fixed Betfair reconciliation with stale API fill data
- Fixed Binance Spot WebSocket subscription acknowledgment parsing (#3382), thanks @Johnkhk
- Fixed Binance Futures instrument parsing for margin requirements (#3420), thanks @linimin
- Fixed Binance algo order quantity `AttributeError` on `_mem` access
- Fixed Binance `cancel_all_orders` to route futures algo orders through correct cancel endpoint
- Fixed Binance Spot `OrderStatusReport.avg_px` always None (#3499), thanks for reporting @mrbaron3
- Fixed Binance Spot `client_order_id` replaced with UUID (#3500), thanks for reporting @mrbaron3
- Fixed Bybit demo trading by using HTTP REST API for order operations (Bybit demo does not support WebSocket Trade API)
- Fixed Bybit HOUR bars not triggering on_bar (#3474), thanks for reporting @88z
- Fixed Bybit historical requests to use ts_event as ts_init (#3502), thanks @dxwil
- Fixed Databento `databento_data` to fetch definitions for full date range (#3414), thanks @Johnkhk
- Fixed Databento zero-length interval at dataset boundary (#3429), thanks @shzhng
- Fixed Databento empty underlying for index-based derivatives (#3480), thanks for reporting @davidsblom
- Fixed Deribit auth token refresh race condition (#3402), thanks @filipmacek
- Fixed Deribit race condition between response and subscription (#3436), thanks @filipmacek
- Fixed Deribit grouped book channel parsing (#3473), thanks @filipmacek
- Fixed Deribit trades parsing for combo_trade_id field (#3520), thanks @davidsblom
- Fixed Interactive Brokers `fetch_all_open_orders` in client cache key preventing connection sharing (#3441), thanks @shzhng
- Fixed Interactive Brokers synthetic position order reconciliation causing filled_qty mismatch errors during periodic consistency checks (#3443), thanks @shzhng
- Fixed Interactive Brokers reconciliation error when account has no positions (#3459), thanks @shzhng
- Fixed Interactive Brokers venue determination when primaryExchange is empty (#3452), thanks @shzhng
- Fixed Interactive Brokers option symbol parsing to preserve OCC format with space padding (#3452), thanks @shzhng
- Fixed Interactive Brokers minor bugs with options (#3452), thanks @shzhng
- Fixed Interactive Brokers partial fill state transition errors where `openOrder` callbacks after fills caused invalid `PARTIALLY_FILLED` -> `ACCEPTED` transitions, thanks @shzhng
- Fixed Interactive Brokers OrderStatusReport filled_qty always being 0 for open orders causing reconciliation errors, thanks @shzhng
- Fixed Interactive Brokers external order ID collision where orders placed via TWS/other clients (orderId=0) could cause fills to be attributed to wrong orders (#3465), thanks @shzhng
- Fixed Interactive Brokers position reconciliation double-counting partial fills from open orders (#3476), thanks @shzhng
- Fixed Interactive Brokers future chain building for index instruments (#3483), thanks @davidsblom
- Fixed Interactive Brokers options missing `^` prefix on index underlying symbols with simplified symbology (#3540), thanks @shzhng
- Fixed Interactive Brokers contract for ESTX50 IND contract (#3556), thanks @davidsblom
- Fixed Interactive Brokers parsing options for Stoxx50 (#3562), thanks @davidsblom
- Fixed Interactive Brokers contract details for FESX futures (#3575), thanks @davidsblom
- Fixed Interactive Brokers `ibapi` 10.43 protobuf compatibility: `IBContract.strike` default and `ContractDetails.underConId` field typo (#3599), thanks @shzhng
- Fixed Interactive Brokers bar unsubscribe (#3588), thanks for reporting @pandashark
- Fixed Kraken spot instrument fee/margin parsing where parameters were incorrectly swapped
- Fixed Kraken spot XBT to BTC symbol normalization (#3509), thanks for reporting @chester0
- Fixed OKX HTTP error messages missing rejection reason details (#3580), thanks @griffith-h
- Fixed Polymarket cancel-rejection loop for done orders
- Fixed Polymarket order state race condition where `PLACEMENT` events could arrive late
- Fixed Polymarket duplicate WebSocket subscriptions (#3403), thanks for reporting @santivazq
- Fixed Polymarket duplicate trade_id for multi-order fills (#3450), thanks for reporting @santivazq
- Fixed Polymarket `load_all_async` ignoring time-based filters (#3475), thanks @Coyote-Den
- Fixed Tardis deltas snapshot boundaries with CLEAR (#3530), thanks @Arandott

### Internal Improvements
- Added `Commodity`, `IndexInstrument`, and `Cfd` instruments in Rust
- Added support for setting cache database adapter in cache and `LiveNode` (#3401), thanks @filipmacek
- Added `ts_init` normalization option to `convert_stream_to_data` (#3433), thanks @faysou
- Added Params type and catalog instrument persistence in Rust (#3539), thanks @faysou
- Added metadata validation for parquet file consolidation to improve handling of mixed precision instruments
- Added Binance `listenKeyExpired` event handling (#3387), thanks @Johnkhk
- Added Deribit data client (#3368), thanks @filipmacek
- Added Deribit order submission (#3408), thanks @filipmacek
- Added Deribit live reconciliation support (#3421), thanks @filipmacek
- Added Deribit rate limiting for HTTP and WebSocket clients (#3424), thanks @filipmacek
- Added Deribit side-specific order cancellation (#3442), thanks @filipmacek
- Added Deribit real-time portfolio WS subscription (#3444), thanks @filipmacek
- Added Deribit integration documentation (#3508), thanks @filipmacek
- Added OKX `instIdCode` support for WebSocket order operations (#3536), thanks @Add1ct1ve
- Added Polymarket data loader rate limiting
- Migrated Nautilus internal logging to `log` crate (external `tracing` available via `use_tracing` config)
- Renamed Deribit instrument kind enum to product type (#3512), thanks @filipmacek
- Refactored execution clients to use `OrderEventEmitter` in Rust (#3469), thanks @filipmacek
- Refactored computation of greeks (#3393), thanks @faysou
- Refactored `instrument_greeks` (#3587), thanks @faysou
- Refactored `TearsheetConfig.charts` to chart objects (removed `chart_args`) (#3398), thanks @KaulSe
- Refactored Betfair order matching to use `rfo` as primary key
- Refactored Deribit WS client to use standard Nautilus method names (#3418), thanks @filipmacek
- Refactored dYdX v4 execution client in Rust (#3477), thanks @filipmacek
- Refactored dYdX v4 adapter (#3521), thanks @filipmacek
- Refactored dYdX v4 data client (#3547), thanks @filipmacek
- Refactored dYdX v4 execution client (#3557), thanks @filipmacek
- Refactored Kraken spot quotes to use dedicated Ticker channel
- Refactored Polymarket WebSocket to multi-client pool pattern
- Improved `cancel_all_orders` to include inflight orders
- Improved pnl FX conversions in portfolio (#3335), thanks @faysou
- Improved live timers to use `BTreeMap` for storage (#3392), thanks @faysou
- Improved checks before writing data in catalog._write_chunk (#3411), thanks @faysou
- Improved `ts_init` monotonicity enforcement in `convert_stream_to_data` (#3600), thanks @faysou
- Improved `OptionExerciseModule` logging and fix cache reference (#3388), thanks @davidsblom
- Improved execution reports builder pattern in Rust (#3417), thanks @filipmacek
- Improved `GridMarketMaker` strategy and dYdX cancel handling (#3601), thanks @filipmacek
- Improved visualization to use fill report for create_bars_with_fills (#3466), thanks @faysou
- Improved Architect AX WebSocket data and order handling (#3577), thanks @andrew-cho-architect
- Improved Betfair adapter rate limiting and fill deduplication
- Improved Deribit with high-performance `Decimal` deserialization (#3510), thanks @filipmacek
- Improved precision-mode validation for Arrow data (#3511), thanks for reporting @2-5
- Improved dYdX v4 data client subscription handling (#3537), thanks @filipmacek
- Improved dYdX v4 rate limiting and cancel strategy (#3606), thanks @filipmacek
- Improved dYdX v4 docs and grid market making tutorial (#3607)
- Refined closing of streaming writer (#3394), thanks @faysou
- Refined handling of `skip_first_non_full_bar` in `TimeBarAggregator` (#3395), thanks @faysou
- Refined greeks safeguards and docs (#3407), thanks @faysou
- Refined processing of gaps in aggregated historical bars (#3412), thanks @faysou
- Refined exercise and settlement of expiring instruments (#3531), thanks @faysou
- Refined `OptionExerciseModule` (#3423), thanks @faysou
- Refined instrument `is_spread()` method (#3434), thanks @faysou
- Refined `OrderBookDeltas.batch` (#3437), thanks @faysou
- Refined conversion of feather files to parquet (#3590), thanks @faysou
- Refined Interactive Brokers adapter (#3195), thanks @faysou
- Refined Interactive Brokers query of option chains (#3481), thanks @faysou
- Refined Interactive Brokers parsing of alternative option symbol format (#3564), thanks @faysou
- Optimized `Price::from_decimal` with integer arithmetic
- Optimized `Quantity::from_decimal` with integer arithmetic
- Optimized `Money::from_decimal` with integer arithmetic
- Optimized message bus publish with thread-local `SmallVec` buffers in Rust
- Optimized message bus pattern matching with greedy algorithm
- Upgraded Interactive Brokers adapter to `ibapi` 10.43 (#3427, #3595), thanks @faysou
- Upgraded Rust (MSRV) to 1.93.1
- Upgraded Cap'n Proto to v1.3.0
- Upgraded Cython to v3.2.4
- Upgraded `databento` crate to v0.41.0
- Upgraded `datafusion` crate to v52.1.0
- Upgraded `pyo3` crate to v0.28.2
- Upgraded `pyo3-async-runtimes` crate to v0.28.0
- Upgraded `redis` crate to v1.0.4
- Upgraded `tokio` crate to v1.49.0

### Documentation Updates
- Added related guides sections to concepts
- Added developer guide for test dataset standards
- Added AX Exchange adapter integration guides
- Added Deribit adapter integration guides
- Split dYdX v3/v4 adapter integration guides

### Deprecations
- Deprecated Betfair legacy `customer_order_ref` truncation (first 32 characters); the adapter now uses last 32 characters for better entropy. Legacy truncation support during startup reconciliation will be removed in a future version.
- Deprecated Binance `key_type` config field; key type is now auto-detected (only needed if explicitly using RSA keys)
- Deprecated Binance `testnet` config field; use `environment=BinanceEnvironment.TESTNET` instead
- Deprecated Binance `BINANCE_ED25519_*` and `BINANCE_*_ED25519_*` environment variables; migrate to the standard `BINANCE_API_KEY`/`BINANCE_API_SECRET` variables