Jan 5 Amended Terms of Service

partially, or not at all.
d.
Orders on the side of the imbalance are selected to be (partially) filled on
the basis of Discrete Price-Time Priority. First, orders are prioritized by
price -- orders with more aggressive prices (high for Bids, low for Offers)
are prioritized first. Second, orders are prioritized by discrete time. The
time priority of an order is determined by the number of auctions it has
been available to cross in -- older orders have higher priority, but orders
that were received in the same auction batch are treated as having equal
priority with each other. (Note that modifying an order resets its priority.)
e.
Thus, crossing orders on the side of the imbalance are divided into cohorts
of equal Discrete Price-Time Priority. For a given cohort, either all of the
orders in the cohort will be filled completely, or they will all be filled
pro-rata, or none of them will be filled, depending on the volume to fill
remaining for that cohort, after filling orders in cohorts with higher
priority.
3.
CoinList settles all Filled Orders immediately, by instructing its Custodian