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Hedge stops & exits

How hedge tranches get their stops, where those stops live, and how the pair closes.

Arming

Where hedge stops live

The venue caps resting conditional orders. Paired exit children reserve slots first, then armed tranche stops are placed nearest-to-price first. Stops on the exchange fire even if your server is down.

App-managed stops. Everything beyond that budget is watched by the app. While the server is down, an app-managed stop does not fire.

Actions on a running hedge