MM Simulation ControlsEach market maker's own view of the underlying's value. Per-participant and intentionally not canonical — disagreement among MMs is the venue's price-discovery signal. Quotes are priced against the MM's own view, not against Stream B.
—σ —Realized per-second volatility of the underlying, computed from a rolling window of 1-minute bar closes (σ_min / √60). Falls back to the configured per-pair σ during cold start. Drives the white dotted ATM fair-value reference lines per tier in the quote panel.
awaiting first price tick…
markupMM markup: the half-spread the MM bakes in at anchor time. Fresh ask = fair·(1+m), fresh bid = fair·(1−m). Age decay walks each side toward fair, and the MM re-anchors the moment it crosses. Bigger markup = wider initial spread + less-frequent re-anchors; smaller = tighter + more updates.25%
Exchange Implied PriceThe exchange's own implied price for the underlying, derived from posted call/put premiums via put-call parity and damped on a fixed cadence by a Kalman filter. The only shared price in the system; strikes are anchored here.
⏳ warming up — not yet computed
tickCadence at which the exchange runs a Kalman update on the implied price. Shorter ticks = faster tracking but more compute and more reprice traffic downstream.1000 ms
decay ττ for the quote-age level decay. Asks shrink by exp(−age/τ); bids grow toward the cap. Per-tier τ is scaled by √(T/T_ref) so longer tiers age more slowly. Lower τ = faster erosion toward fair = more frequent re-anchors.150 s
Instrumentation
collecting…
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Timeframe
Durations
Bar Type
disconnected