Gemini exchange publishes a new post: Guidelines For Trade Reversals

[BitcoinXio]

This is a direct result of the issue that happened last week, which you can read about here too:
trading-discussion/gemini-exchange-sees ... t2548.html

Excerpt:

We are writing to clarify our policies and procedures around market disruptions, and to address the large market buy order that was placed by a customer on the evening of Friday, November 13th, 2015. This single order drove up the price per bitcoin on Gemini to as high as $2,200.00 (i.e., ~$1,800.00 dollars above the then current market price), and after careful consideration, it was subsequently reversed. Upon making our determination, we immediately alerted all counterparties involved and have been working diligently to ensure the most equitable resolution possible. We have also been working on building and implementing a strategy to prevent and help mitigate similar situations in the future. It has been no small undertaking, and we greatly appreciate your patience, apologize for any inconvenience and for the delay in our response communication, and understand how some may disagree with our decision. With that said, in an effort to be as transparent as possible, we will outline why we decided to unwind this trade, what we are doing to prevent this from happening in the future, and what customers can expect in the event something like this happens again.

You can read the full post here which includes the reversal guidelines:
https://blog.gemini.com/our-guidelines- ... reversals/

[bitcoinmarketmaker]

In my opinion trade reversals like this are unfair and if they felt the need they should have provided a solution at their own cost to the trader.

This is one of many reasons why after several years I have left the exchanges and am preparing to provide liquidity on decentralised (prediction) markets.