CASE 2

In the case of a market order with bid id “1607277560898710” and a volume of 7,000, three trades for the bid id “1607277560898710” are generated:

• The first one consumes the “1207277960879500” trader ask order (vol=200, price=423.0)
• The second one consumes the “1207277960876310” trader ask order (vol=6000, price=425.0)
• The third one fills the remaining volume of this market order (i.e. 800) with “1207277960876310” trader ask order (vol=800, price=425.0)

The resulting orderbook content is shown as follows:

Ask[5050], 426.0, vol:800.0, [160695464670030]

Ask[5051], 425.0, vol:7200.0, [1207277960876310]

<--spread=3.0-->

Bid[5047], 422.0, vol:5000.0, [1127193705767590]

Bid[5046], 422.0, vol:10000.0, [242062359407230]

Bid[5045], 422.0, vol:2000.0, [657291406094408]

Bid[5044], 421.0, vol:400.0, [889024888125048]

Bid[5048], 420.0, vol:5000.0, [253803710837903]

Note how such market order has taken liquidity from the ask list and caused the spread to increase to 3.0.