If your stop market order was triggered and you did not understand that market price means ANY price, or you otherwise feel like the exchange is at fault for something, please submit a support ticket.
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Trading yesterday was fairly tight so worst case some people unintentionally market bought and then market sold at a <1% diff. Best case some people are happy because the market moved favorably for them since. We always want to help people better understand how the system works.
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Doesn’t matter where their stops were. What matters is the cost to unwind an unintended but unfavorable trade, which would have been very low. $11k stop triggered market sell netting $10,000, re-bought at $10,100/$9900 means 1% loss/gain.
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Wasn't affected, but as an active trader I can say this: triggering stop orders up to 20% away from the actual market price because the exchange reported an incorrect market price is, to put it plainly, a big fucking problem
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How do you define "actual market price"? Best bid/ask/midpoint might never have traded and might never trade. Our stops work off of last trade on our market, which has many advantages. The exchange did not report an "incorrect" market price. It reported an actual trade.
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I'm not sure how "a legitimate trade for pricing purposes" is defined. Agree that matching at trade to the wrong side of the book is an exchange error. Everything that happened after that worked as expected. Trade printed, stops triggered, other orders matched just fine.
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I think it's an interesting point to debate. Does the nature of the input matter if it's a rational input? In this case, the outcome is the same as it'd be if the book had been cleared. If $10-12k was cleared, a triggered stop market sell at $12k would have hit best bid at $10k.