Stale Quote Protection refers to configuration settings that can be invoked by MarketFactory, to direct FeedServers to reject orders submitted by the customer application. Rather than sending previously quoted orders to the trading venue. The intent of this is to prevent orders being sent to the venue that are too old or stale, and would ultimately result in venue rejection.

Stale quote protection is available for Taker (liquidity consumer) connections to venues, where the customer application submits previously-quoted orders ( that contain within them a quoteID) specifically;

The stale quote protection is achieved by monitoring two parameters that can be statically configured below:

1. The number of milliseconds at or after which a quote can be considered stale and excluded from consideration for quotes that can be sent to a venue. Whisperer then starts timing staleness of a quote at the point the quote is deleted. Ensuring that the most recent quote is always valid.
   
   
2. Monitoring the number of ticks that a quote is valid for. With quotes that arrive less recently than the number of quotes configured considered stale and excluded from consideration for quotes that can be sent to a venue. Again ensuring that the most recent quote is always valid.

Once both conditions are invoked failure for an order to meet either argument can result in a quote being removed from consideration. Another way to think of it is that both conditions must be satisfied in order for a quote to be considered valid.

Example

Quotes

To keep the example simple, we'll use only bid quotes. The example below displays that the history of quotes that live for a duration of a single tick.

The example below demonstrates the history of quotes once the condition of stale after 200 milliseconds is invoked without the deleted message buffer

With both conditions invoked (and the buffer size set to a tick size of three (3)) the history for the same period would be seen as below: