Orderbook behaviour during market suspension

[Cez]

Hi guys,

I searched the forum for this, but I don't feel like this has been answered explicitly.

What happens to the prevailing orderbook when the market is suspended? I know the odds cannot be matched at that time, but what about those being limit orders hanging in the queue, waiting to be filled?

Do they stay there and become available after the market is re-opened? Or are they automatically cancelled and not available for future matching?

If the first one, then how can a market maker react to this?
Say I'm laying the back odds on Liverpool and they score a goal - when I send the request to cancel my bet during the suspension is it going to cancelled right after the re-opening? Or do I need spam the API to 'not miss the re-opening'? Curious about the mechanics here.

Thanks,
Cez

[jabe]

Hi guys,

I searched the forum for this, but I don't feel like this has been answered explicitly.

What happens to the prevailing orderbook when the market is suspended? I know the odds cannot be matched at that time, but what about those being limit orders hanging in the queue, waiting to be filled?

Do they stay there and become available after the market is re-opened? Or are they automatically cancelled and not available for future matching?

If the first one, then how can a market maker react to this?
Say I'm laying the back odds on Liverpool and they score a goal - when I send the request to cancel my bet during the suspension is it going to cancelled right after the re-opening? Or do I need spam the API to 'not miss the re-opening'? Curious about the mechanics here.

Thanks,
Cez

A good question. I believe it depends on what happened to cause the suspension. If, for example, a penalty has been awarded in a football match, several markets (or perhaps all markets) will be suspended. If the penalty is missed, outstanding orders will remain queued. If a goal is scored, queued orders in some markets will be cancelled. When a market is cancelled you will be able to watch it going from empty and filling up after the change in the score. I would suggest that you watch what happens on the main Betfair site for better insight.

If Liverpool score, unmatched bets on the result and correct score (for example) should be cancelled before the market is unsuspended. Unmatched bets on markets such as number of corners or next player to be red-carded may not be cancelled, though I'm not 100% certain of this.

[Cez]

Thanks Jabe for this, anyone had similar experience / insight?