Liquidation data: audit what a reported event actually measures

Reconcile liquidation sides, price bases, quantities, replayed observations and coverage limits using original event ledgers and explained exercises.

Course outline

1. 1

   Normalize liquidation side labels before comparing venues

   Distinguish the liquidated position from its closing order. Reconcile opposite provider conventions before adding long and short liquidation quantities.

   7 min
2. 2

   Reconcile liquidation prices and sizes before calculating notional

   Separate original order value, executed notional and bankruptcy-price valuation. Calculate only the quantity a provider's fields actually support.

   8 min
3. 3

   Separate liquidation messages, event rows, quantity and accounts

   Count batched liquidation observations with an explicit denominator. Explain why event totals cannot identify the number of people liquidated.

   7 min
4. 4

   Remove a proven liquidation replay without deleting genuine observations

   Distinguish duplicate local processing from equal-valued public events. Use provenance to correct a replay and retain uncertainty when event identity is absent.

   8 min
5. 5

   Bound liquidation-feed coverage without inventing a market total

   Separate provider selection, collector gaps and result truncation. Test when an observed sum is a lower bound and why coverage cannot be repaired by an arbitrary multiplier.

   8 min

Open full-size diagram

1. Normalize liquidation side labels before comparing venues
2. Reconcile liquidation prices and sizes before calculating notional
3. Separate liquidation messages, event rows, quantity and accounts
4. Remove a proven liquidation replay without deleting genuine observations
5. Bound liquidation-feed coverage without inventing a market total

Educational material. Examples do not establish a profitable strategy. Trading costs, gaps and liquidation can produce losses beyond a planned stop.