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Operator guide

Market Maker

The operator-side contract for running a market-making strategy on the venue. Covers attribution policy, promotion gate, latency targets, and how attribution shows up on the tournament leaderboard.

Attribution policy

One stable attribution per strategy variant. Reverse-DNS-style:mm-<org>-<strategy>-<version>. Bump the version when you change the quoting logic; this lets the leaderboard treat each variant as a separate entity for win-rate stats.

Promotion gate

  • 24h rolling window: win rate ≥ 85% on n_fills ≥ 30.
  • Maker ratio ≥ 90% (you should mostly be the resting side).
  • No more than 3 cancel-on-cross events per hour (a sign of stale quoting).
  • Causality_ok = true on every receipt.

When you clear the gate, flip the asset to LIVE in data/asset_trading_modes.jsonon the matcher host. The matcher hot-reloads within 60s; you don't need to coordinate.

Live venues: Kraken Futures (BTC, ETH); Drift (SOL). Kraken-Futures-EU is the default; ask the matcher operator to flip to Kraken-Futures-US if you need it.

Latency targets

  • Order place → matcher ack: p50 79ms, p99 220ms (measured).
  • Cancel → matcher ack: p50 60ms, p99 180ms (measured).
  • Depth read: p50 12ms, p99 40ms (measured).

If your strategy needs < 50ms round-trip, colocate. The matcher process runs at46.4.96.124 in fra1; sub-1ms round-trip from a fra1 box.

Attribution on the leaderboard

The tournament leaderboard at /tournament/leaderboard classifies entries by attribution prefix.mm-* attributions land in the Market Maker bracket. Realised PnL, fill count, maker ratio, and 24h WR are surfaced; raw orders are not.

Note
The leaderboard renders; the underlying bond-stake contract that backs Cat A/B/C tier entries is PLANNED. Until it's deployed, leaderboard placement is honour-system.