Market Hours & Latency
Market Hours & Latency
Market Hours
Initiativ currently operates with standard trading hours:
Opening: 08:00 CET
Closing: 16:00 CET
Days: Monday–Friday (excluding holidays)
These hours are aligned with regulated carbon and energy markets. While the Initiativ infrastructure is designed to support 24/7 trading, this feature is not activated at this stage. As market maturity increases and demand shifts, the system can easily transition to continuous operation without architectural changes.
Settlement vs. Delivery
Initiativ distinguishes clearly between settlement and delivery:
Settlement: The moment a trade is matched and confirmed on-chain. This occurs immediately, using the platform’s matching logic.
Delivery: The actual transfer of emission allowances (EUAs, EUAAs, UKAs) from Initiativ’s registry account to the participant’s account. This step is dependent on the national registry’s infrastructure and operating hours.
While settlement is finalized on-chain in real-time, delivery timing is subject to the availability and responsiveness of the relevant registry.
Latency and Throughput
Initiativ’s matching engine operates on a private EVM L1 blockchain, which is optimized for high throughput and low latency.
Current Performance Benchmark:
Up to 10,000 orders per block
~30 milliseconds block time in internal low-latency test environments
Price-time priority determines order matching
Matching occurs instantly as a block is formed
These performance figures are currently being validated through ongoing tests and will evolve as infrastructure and load conditions change.
Bulk Order Processing – Visual Overview
Here’s how bulk order processing works on Initiativ:
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| Initiativ Matching Engine |
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| 1. Orders received from multiple users |
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| 2. Collected into memory (up to 10,000 per batch) |
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| 3. Bulk matching logic applied (price-time priority) |
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| 4. Matching results sent to the next block |
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| 5. Finalized trades are settled on-chain instantly |
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| 6. Delivery to registry accounts happens after that step |
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This batching mechanism ensures that orders are matched quickly and efficiently, while decoupling registry-based delivery from immediate on-chain settlement.
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