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Merge pull request #2214 from vegaprotocol/PRIM-fixing-persistent-ord…
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Updating wording
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peterbarrow authored Mar 14, 2024
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2 changes: 1 addition & 1 deletion protocol/0032-PRIM-price_monitoring.md
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Expand Up @@ -137,7 +137,7 @@ to the risk model and obtains the range of valid up/down price moves per each of
- Specifying a non-positive auction extension results in an error. (<a name="0032-PRIM-017" href="#0032-PRIM-017">0032-PRIM-017</a>). For product spot: (<a name="0032-PRIM-036" href="#0032-PRIM-036">0032-PRIM-036</a>)
- Settlement price outside the current price monitoring bounds does not trigger an auction (<a name="0032-PRIM-018" href="#0032-PRIM-018">0032-PRIM-018</a>)
- A network trade (during closeout) with a price outside price monitoring bounds does not trigger an auction. (<a name="0032-PRIM-019" href="#0032-PRIM-019">0032-PRIM-019</a>)
- Persistent order causing trade with the price outwith both bands triggers an auction. Initial auction duration is equal to the extension period of the first trigger. Once the initial period ends the auction gets extended by the extension period of the second trigger. No other orders placed during auction, auction terminates with a trade from order that originally triggered the auction. (<a name="0032-PRIM-020" href="#0032-PRIM-020">0032-PRIM-020</a>). For product spot: (<a name="0032-PRIM-037" href="#0032-PRIM-037">0032-PRIM-037</a>)
- 2 persistent orders with prices outside both trigger price bands triggers an auction. Initial auction duration is equal to the extension period of the first trigger. Once the initial period ends the auction gets extended by the extension period of the second trigger. No other orders placed during auction, auction terminates with a trade from order that originally triggered the auction. (<a name="0032-PRIM-020" href="#0032-PRIM-020">0032-PRIM-020</a>). For product spot: (<a name="0032-PRIM-037" href="#0032-PRIM-037">0032-PRIM-037</a>)
- Same as above, but more matching orders get placed during the auction extension. The volume of the trades generated by the later orders is larger than that of the original pair which triggered the auction. Hence the auction concludes generating the trades from the later orders. The overall auction duration is equal to the sum of the extension periods of the two triggers. (<a name="0032-PRIM-021" href="#0032-PRIM-021">0032-PRIM-021</a>). For product spot: (<a name="0032-PRIM-038" href="#0032-PRIM-038">0032-PRIM-038</a>)
- For all available mark price calculation methodologies: the price history used by the price monitoring engine is in line with market's mark price history. (<a name="0032-PRIM-039" href="#0032-PRIM-039">0032-PRIM-039</a>)
- For all available mark-price calculation methodologies: the mark price update candidate gets rejected if it violates the price monitoring engine bounds. (<a name="0032-PRIM-040" href="#0032-PRIM-040">0032-PRIM-040</a>)

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