Mark Price

Fair Market Pricing is used for liquidations and unrealized PNL. Although the Mark Price may temporarily deviate from actual market traded prices, EMX's Fair Market Pricing prevents market manipulation and excessive liquidations.  The Mark Price is a function of the Index Price and current market prices and is calculated in 2 steps.

1. Fair Price
   Fair Price = (Impact Bid + Impact Ask) / 2
• Impact Bid =
  • clearing price to fill a 1 contract market sell order
  • or the best bid price - 0.1%, which ever has a greater value
• Impact Ask =
  • clearing price to fill a 1 contract market buy order
  • or the best offer price + 0.1%, which ever has a lower value
2. Mark Price
   Mark Price = Index + 10 second EMA (Fair Price - Index)
• Hard limited by Index +/- Mark Price Band %
• Trading can still occur outside these bands
• Calculated every 1 second