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****, made up IG bull candle to stop hunt clients

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The 'short squeeze' that happened on IG around ten minutes ago but didn't exist at all on any of the real crypto exchanges is pure ****. These guys just ran stops on their own clients with this made up ****.

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Get you post some screens or explain?

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Trajan @trajanmex  Bitcoin pumps on news of emails getting leaked.

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Afternoon all,

To be clear - we don't weight cryptocurrency prices, based on either client trades or positions. We don't "stop hunt" client positions.

It is not in our interest to do so. Such behavior would -  among other things - be harmful to our reputation, unfair, and would lead to intervention by the relevant regulator.

We price our crypto pairs by taking price feeds from exchanges, and combining them into a blended price.

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Any given combination of feeds will ultimate produce a "best price" which we would use as our mid. This price is created by taking an average bid and offer price from our exchange price feeds, and wrapping a fixed spread around the new mid.

We weight these feeds in a normal distribution to reduce the impact of a spike in any single price feed. (Very rough chart from when this was in testing to give you a visual aid).

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This distribution means that the feeds closest to the  mean will have the largest price impact, preventing the majority of price spikes that could otherwise be caused by individual feeds.

Where there is a price spike we will determine whether it is valid reflection of the underlying market- and reverse trades if not.

 

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