> ## Documentation Index
> Fetch the complete documentation index at: https://docs.parquet.exchange/llms.txt
> Use this file to discover all available pages before exploring further.

# Markets

> The live Parquet markets — US equity, crypto, commodities, forex, and trading-card perpetuals, trading 24/7.

Parquet trades live on Solana mainnet across US equities and ETFs, crypto, commodities, forex, and trading cards. The in-app market list is the canonical, always-current set of tradeable markets.

Parquet lists perpetuals across US equities and ETFs, crypto, commodities, forex, and trading cards, plus synthetics such as SPCX. Each market gives synthetic long or short exposure to a real-world price, settled in USDC against a shared per-category liquidity pool. **Markets trade 24/7.** For US-equity markets, during regular US trading hours (9:30 AM–4:00 PM ET, Mon–Fri) prices track the live US equity market; outside those hours, prices come from an off-exchange reference feed. See [Trading hours](#trading-hours) and [Risks](/reference/risks).

## Single-name equities

Large-cap and high-volume US equities.

| Symbol | Name                              |
| ------ | --------------------------------- |
| AAPL   | Apple                             |
| NVDA   | NVIDIA                            |
| GOOGL  | Alphabet (Class A)                |
| AMZN   | Amazon                            |
| TSLA   | Tesla                             |
| COIN   | Coinbase                          |
| MSTR   | Strategy (formerly MicroStrategy) |
| HOOD   | Robinhood                         |
| CRCL   | Circle                            |
| MU     | Micron Technology                 |
| SNDK   | SanDisk                           |
| INTC   | Intel                             |
| AMD    | Advanced Micro Devices            |
| MSFT   | Microsoft                         |
| META   | Meta Platforms                    |
| PLTR   | Palantir                          |
| ORCL   | Oracle                            |
| LLY    | Eli Lilly                         |
| TSM    | Taiwan Semiconductor              |
| CRWV   | CoreWeave                         |
| BABA   | Alibaba                           |
| AVGO   | Broadcom                          |
| NFLX   | Netflix                           |
| MRVL   | Marvell Technology                |
| ASML   | ASML Holding                      |
| COST   | Costco                            |
| RIVN   | Rivian                            |
| IBM    | International Business Machines   |
| DELL   | Dell Technologies                 |

Parquet also lists select non-US equity perps — for example the Chinese-AI-company names **MiniMax** (`100.HK`) and **Z.AI / Zhipu** (`2513.HK`). See the in-app market list for the current set.

## ETFs

Broad-market index ETFs.

| Symbol | Name              | Exposure                          |
| ------ | ----------------- | --------------------------------- |
| SPY    | SPDR S\&P 500 ETF | Broad US equity market (S\&P 500) |
| QQQ    | Invesco QQQ Trust | Nasdaq-100 index                  |

## Crypto

Major and Solana-ecosystem crypto perpetuals (for example SOL, BTC, and ETH), priced 24/7. Backed by the crypto liquidity pool. See the in-app market list for the full set.

## Commodities

Metals and energy perpetuals (for example silver, copper, gold, WTI crude, and natural gas), priced 24/7 from an off-exchange reference feed. Backed by the commodities liquidity pool. See the in-app market list for the full set.

## Forex

Major FX-pair perpetuals (for example EUR/USD, GBP/USD, and USD/JPY), priced 24/7 from an off-exchange reference feed. Backed by the forex liquidity pool. See the in-app market list for the full set.

## Trading cards

Trading-card perpetuals give synthetic long or short exposure to the prices of collectible trading cards — graded, raw, and sealed product — priced 24/7 from a card-market reference feed and settled in USDC against a dedicated trading-card liquidity pool. The app groups them into **raw**, **sealed**, and **graded/slab** sectors. See the in-app market list for the full, current set.

<Warning>
  Trading cards are a **higher-risk, speculative** product and carry tighter risk parameters than the other categories. Max leverage is **50×** (set by a 200 bps initial margin, with 100 bps maintenance margin), open-interest caps are **smaller and depth-scaled** per card, payouts are **queue-backed**, and trading-card markets are **excluded from the LP farm** — there is no LP yield or farm pool for them. The underlying card-market reference feed is thinner and less continuous than an equity or crypto feed, so marks can move sharply. Treat these as a degen product and read the [risk disclosure](/reference/risks) before trading.
</Warning>

## Synthetic

| Symbol | Name             | Pricing                                       |
| ------ | ---------------- | --------------------------------------------- |
| SPCX   | SpaceX synthetic | Third-party reference feed (`xyz:SPCX`), 24/7 |

SPCX tracks a third-party off-exchange synthetic for SpaceX, priced 24/7. **It is not SpaceX stock**, confers no ownership or equity claim, and has no independent on-chain oracle feed — like several other markets, it is priced solely from a third-party reference feed. Treat SPCX as a speculative synthetic and read the [risk disclosure](/reference/risks) before trading.

## Inactive markets

A few symbols are listed for historical reasons but aren't currently enabled for trading — they have no live price feed, so you can't open positions on them.

| Symbol | Name                   |
| ------ | ---------------------- |
| SMCI   | Super Micro Computer   |
| USO    | United States Oil Fund |

The active lineup changes over time as feed coverage changes; the list above reflects the current venue.

## Trading hours

Parquet trades continuously, 24/7. Two pricing regimes apply:

* **Regular trading hours (RTH)** — 9:30 AM–4:00 PM ET, Mon–Fri, excluding US market holidays. Prices track the live US equity market. Leverage tops out at **200×** on the smallest position tier (set by the 50 bps initial margin) and the per-market open-interest cap is \$5M.
* **Off-hours** — everything else, including overnight and weekends. Prices come from an off-exchange reference feed rather than the underlying US equity venues, so the mark can drift from where the stock would actually trade at the next US open — especially across the 4:00 PM ET close. The **same leverage tiers** apply as in regular hours, but two things tighten: the per-market open-interest cap drops to $500K (or $100K for ASML, COST, RIVN, IBM, DELL), and an **ADL tail-backstop** is armed (a last-resort, capped socialization of the payout-queue tail — see [Payout queue](/trade/payout-queue) and [Risks](/reference/risks)). Positions held across the boundary are marked continuously against the reference feed, so you can be liquidated overnight or over a weekend — see [Risks](/reference/risks) and [Liquidations](/trade/liquidations).

At each session boundary (9:30 AM and 4:00 PM ET) Parquet applies a short (10-minute) weighted blend between the two regimes to smooth the transition. US holidays and early closes are detected automatically and treated as off-hours.

The app shows a banner indicating whether the market is in regular hours, transitioning, or off-hours, along with when the next session change happens.

## How pricing works

Prices on Parquet come from external market-data feeds, adjusted by session:

1. **Sourcing** — During regular hours, prices track the live US equity market. Off-hours, they come from an off-exchange reference feed.
2. **Validation** — Prices are checked off-chain before they reach the chain; bad or stale data is filtered out. Large but legitimate moves — such as the Monday-morning open — are allowed through.
3. **On-chain updates** — Validated prices are posted on-chain about once per second, more often for fast-moving names.
4. **Oracle check** — Each on-chain price is validated for staleness and confidence before any trade can execute against it.

For how Parquet defends this pipeline against oracle manipulation, stale feeds, and latency arbitrage — including during volatile earnings and major market-moving events — see [Price integrity](/reference/price-integrity).
