Roxom’s trade-matching system that executes orders based on price-time priority during live trading hours. It enforces all trading rules and risk checks described in this rulebook.
A last-resort loss-distribution mechanism that automatically deleverages (reduces) opposing traders’ positions to cover unallocated losses in extreme scenarios where the Insurance Fund is insufficient. ADL ensures the exchange as a whole remains solvent by sharing losses among profitable traders (seeAuto-Deleveraging sectionfor detailed information about our system).