Circuit Breaker
A circuit breaker is a function which causes temporary suspension of trades to prevent sudden price volatility caused by events such as erroneous orders.
- *Orders may be placed and cancelled while trading is temporarily suspended.
- *If there have been no trades for 10 minutes, the reference price remains at its most recent value.
- *The single price determined by the Itayose method is taken as the circuit breaker reference price for the duration of the 10 minute period following the resumption of trading.
- *When trading is temporarily suspended due to circuit breaker activation and the single price determined by the Itayose method falls outside of the price fluctuation threshold, another period of suspension will immediately follow without resumption of trading. The reference price of this new period will be the price at which the price fluctuation threshold was exceeded.
- *There may be situations where we do not apply the Circuit Breaker if we determine that, in consideration of trading conditions, applying a temporary suspension to trading is not appropriate.
- *We will make a determination as to whether to temporarily suspend trading on each occasion that the circuit breaker activation conditions are met. There may be a time difference between the satisfaction of those conditions and the commencement of a suspension.
- *If the regularly scheduled maintenance time starts while the circuit breaker is activated, the circuit breaker Itayose process will take priority over the maintenance period.
- *The circuit breaker system is not guaranteed to activate for every order made in error.
- *Any opportunity losses, including those due to the introduction of the circuit breaker system, are under no circumstances the responsibility of bitFlyer, Inc.
If you have placed multiple limit orders at the same price, the orders will be executed in the order they were placed. All market orders placed before the single-price auction is determined (including orders placed prior to scheduled maintenance) will be considered to have been placed at the same time.