understanding status change

[bnl]

Hi!
Is there a document which describes WHEN
a status change occur?

Looking at market status,
when does it become suspended? at the
end of a race (for horses)
When does it disappear ?
(That is betfair does not keep every market forever?)


MarketStatus
Value Description
INACTIVE Inactive Market
OPEN Open Market
SUSPENDED Suspended Market
CLOSED Closed Market


looing at marketbook at
https://api.developer.betfair.com/se...ypeDefinitions
I see more market statuses in the text


MarketBook
The dynamic data in a market
Field name Type Required Description
marketId String (tick)The unique identifier for the market
...
status MarketStatus The status of the market, for example ACTIVE, SUSPENDED, SETTLED, etc.


So what does ACTIVE mean for a market.
And does it ever get status SETTLED?
And for how long does it keep SETTLED?

I'd like to update stuff when it becomes SETTLED,
but if I need to do that on CLOSED too,
I'll keep on polling until I get no answer
for that market, which I suspect is 24-48 hours after CLOSE


For runners, what does 'ACTIVE' mean?
That the race is ongoing? or that
it is not decided yet?

RunnerStatus
Value Description
ACTIVE ACTIVE
WINNER WINNER
LOSER LOSER
REMOVED_VACANT REMOVED_VACANT applies to Greyhounds.
REMOVED REMOVED



and some more betting term related stuff:

PersistenceType
Value Description
LAPSE Lapse the order at turn-in-play
PERSIST Persist the order to in-play
MARKET_ON_CLOSE Put the order into the auction
(SP) at turn-in-play

LAPSE and PERSIST I get. But what is happening on MARKET_ON_CLOSE. Can I read about SP - auction somewhere?
(yes, I'm fairly new to these betting terms)

regards
/Björn