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Market orders will be restricted by the maximum Impact Price of:Protection on Limit Orders
Buy orders: 5% above Best Ask or Mark Price (whichever is higher)
Sell orders: 5% below Best Bid or Mark Price (whichever is lower)
If a market order size is less than or equal to the accumulated size of orders available in the order book (up to the maximum Impact Price), the requested order will be fully filled.
However, should the order size be larger than the accumulated size of orders available, the order will only trade up to the maximum Impact Price, and the remainder of the order will be cancelled.
Users will have their limit order rejected should an order meet the below criteria:
Buy orders: Limit price is more than 5% above Best Ask or Mark Price (whichever is higher) and order size is larger than the current Best Ask size.
Sell orders: Limit price is more than 5% below Best Bid or Mark Price (whichever is lower) and order size is larger than current Best Bid size.
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