Marks, resolution and disputes

In one line: we mirror the venue verbatim. Kronus is not an oracle.

Marks#

A mark is the venue midpoint, with spread and depth guards. When the book thins out or the spread blows wide, the guard freezes the mark at its last good value rather than following a phantom quote — because that mark is what your floor is measured against.

Resolution#

We mirror the venue verbatim, without exception: resolved, disputed, delayed, 50/50 or voided. If the venue is late, we are late. If the venue settles against public expectation, so do we.

Disputes and voids#

• In dispute: the mark freezes at its last pre-dispute value and new entries halt. There is no early exit at beta — a position runs to resolution either way.
• Final outcome applies in full when the dispute closes — including retroactively against a frozen mark.
• Voided markets unwind at cost. A void is not a loss and not a win.