Multiplier Formula Update

We would like to introduce a formula update for the multiplier that we use on the CoverRules website. You can reference the old formula in our documentation here

It was identified that it would be beneficial to use different formulas for the bids and asks sides. This change will affect the calculation of the distance of the order price from market price. In the prior version it used to be an absolute difference of market price and the order price.

If this snapshot passes we will use:

• for the bids side distance will be MP - bid.
• for the asks side distance will be ask - MP.

Here are the formulas:

This will allow us to make sure that orders that are better than market price but did not get matched are not penalized. This will also ensure that orders that are far from the market price are not rewarded.

Options

• Implement Change
• Do Nothing