Today marks the opening of the 2015-16 international signing period, during which so-called “July 2” prospects can begin inking deals with MLB clubs. Every MLB team has been allocated a series of bonus slots, all of which may be traded, with certain restrictions. Baseball America provides a tally of each team’s total available pool this year. Clubs that spend over their allotment face escalating penalties, ranging from 100% taxes on overages to a two-year ban on $300K+ international bonuses (for going over 15% above the total allocation). This year, the team with the top overall pool allocation — the Diamondbacks ($5,393,900) — is ineligible to spend more than that amount on any single player, and is expected to deal away some of its capacity since it cannot put it to full use. Likewise, the Angels, Rays, Red Sox, and Yankees face that limitation due to budget-busting deals in the 2014-15 July 2 period. And numerous additional clubs are expected to incur future signing limitations in the coming signing period. While most of the players subject to the signing rules are a long ways away from the big leagues, there are undoubtedly impact players among them — some of whom could come up in trade talks long before they’re close to the majors.

Here’s the latest on the market, which will gear up quickly, as well as some key resources to get acquainted with: